We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Wednesday, 30 June 21
DELTA DUNIA MAKMUR RECORDED AN IMPROVED REVENUE IN Q1 2021; REVENUE INCREASED BY 49% QOQ TO US$160 MILLION ON THE BACK OF COAL PRICE RECOVERY
 PT Delta Dunia Makmur Tbk. (“DOID”) released its consolidated financial and operating results that include its primary and wholly-owned subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”).
The Company recorded an improved volume of 25% QoQ to 65.0 million bcm and revenue increased by 49% QoQ to US$160 million on the back of coal price recovery that continued to strengthen at the beginning of 2021.
According to the report, overburden removal volume for 1Q 2021 was 65.0 million bcm, 25% higher from 52.1 million bcm recorded in 4Q 2020. Coal production was 12.7 million tonnes in 1Q 2021, 10% higher compared to 11.4 million tonnes in 4Q 2020. Volume recovery was visible in 1Q 2021, despite being affected by heavier rainfall and ramp up challenges. The Company is on track to meet volume target for the year.
The report further noted that, Net revenues for 1Q 2021 was US$160 million, 49% higher QoQ than US$108 million recorded in 4Q 2020. EBITDA was US$31 million for 1Q 2021, a 149% increase compared to US$13 million in 4Q 2020. Coal price recovery has led to higher rates despite volume not fully recovered yet. However, the Company incurred upfront costs related to recovery ramp up efforts and higher costs due to certain challenging work area. Therefore, EBITDA margin was impacted at 21.8%.
Net loss of US$26 million was recorded for 1Q 2021 compared to US$19 million net loss in previous quarter, given the Company incurred certain refinancing cost in 1Q 2021.
th report says, free cash flows generation was at US$13 million and operating cash flows was at US$27 million in 1Q 2021. This is mainly the result of ramp up activities that require upfront expenditures and transaction costs related to refinancing. Total capital expenditure spent was US$14 million for 1Q 2021. The Company expects higher capex spending for the year as we prepare for incremental volumes. Net debt5) was US$452 million as of March 31st, 2021 and the Company’s consolidated net debt to EBITDA ratio was 3.4x.
Given the strong recovery in coal price at the beginning of 2021, gradual volume recovery is expected for the rest of 2021 on the back of coal market improvement. The Company shall remain focused on securing new contracts, liquidity preservation, optimization of existing assets and cost reduction to gain momentum and seize opportunities as market recovers.
In January 2021, BUMA entered into an extension agreement with IPR on its mine located in Tabang, the Kutai Kartanegara Regency, Province of East Kalimantan. The agreement extends the existing contract to December 2031, and includes a significant expansion of the work entailed, providing additional volume of over 650 million bcm of overburden removal, over 210 million tonnes of coal to be extracted and over 75 million tonnes of coal to be hauled.
In June 2021, BUMA also signed a new contract with Adaro for its Tutupan Mine Operation, located in Tabalong Districts, South Kalimantan and Barito Selatan Districts, Central Kalimantan. The term of the contract is until December 2025. Total volume of the contract is over 234 million bcm of overburden removal and over 44 million tonnes of coal to be extracted. Average annual production is expected to be within the range of 30- 70 million bcm of overburden removal and 5.0 – 12.0 million tonnes of coal.
On 10 February 2021, BUMA successfully issued a US$400 million 7.75% 5NC2 Senior Notes due 2026 (“Senior Notes 2026”). Concurrently, a tender offer and consent solicitation were completed in order to align terms of BUMA’s US$350 million 7.75% Senior Notes due 2022 (“Senior Notes 2022”) with that of Senior Notes 2026. Following transactions above, bank loans were fully settled, and full redemption of Senior Notes 2022 were completed by 31 March 2021.
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 30 June 21
MARKET INSIGHT - INTERMODAL
The strong freight performance since the beginning of year has continued for the dry bulk market with earnings being at the highest level in over a ...
Monday, 28 June 21
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA THREATENS TO REVOKE 2,350 MINING BUSINESS PERMITS
The Ministry of Energy and Mineral Resources said that the revocation of mining business permits was in accordance with President Jokowi's inst ...
Sunday, 27 June 21
INDONESIA'S STATE-OWNED UTILITY PLN'S 2060 NET ZERO AMBITION NOT WITHOUT FLAWS AND GAPS - IEEFA
Indonesia on the right emissions reduction pathway but same old coal stories persist
Recent announcements by Indonesia’s state-owned uti ...
Saturday, 26 June 21
COAL PRICES HIT DECADE HIGH DESPITE EFFORTS TO WEAN THE WORLD OFF CARBON - WSJ
Rebounding electricity usage and scanty rainfall in China have added fuel to the rally
Coal prices have climbed to their highest lev ...
Saturday, 26 June 21
KOSPO INVITED BIDS FOR 480,000 MT OF COAL PER ANNUM
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 480,000 MT of NCV 1 Min. 5,600 (Spec 1) /Min. 5,0 ...
|
|
|
Showing 541 to 545 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- White Energy Company Limited
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
|
| |
| |
|
