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.
|
|
Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owne ...
Sunday, 30 May 21
PAKISTAN IS PLANNING TO END COAL IMPORTS, WORSENING OUTLOOK FOR SOUTH AFRICAN COAL - IEEFA
The growing and irreversible risks being faced by South African coal exporters
As Thungela Resources’ CEO attempts to talk up ...
Sunday, 30 May 21
G7 COAL FINANCE EXIT AND WHY IT MATTERS FOR INDIA - IEEFA
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group o ...
Saturday, 29 May 21
SKULD’S IMO 2020 SULPHUR CAP EXPERIENCE
More than a year has passed since the International Maritime Organization (IMO) mandate for the 0.50% sulphur cap for marine fuel (MARPOL Annex VI) ...
Thursday, 27 May 21
KOMIPO INVITED BIDS FOR 1.56 MILLION TONS OF BITUMINOUS COAL
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
|
|
|
Showing 566 to 570 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- VISA Power Limited - India
|
| |
| |
|
