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 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
|
| |
| |
|
