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Tuesday, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
Delta DuniaCOALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.

Despite challenging market situation for most of 2016, the Company has managed to turn around its operations and recorded net profit of US$37 million compared to net loss of US$ 8 million in 2015.

According to the press release from the company, the Company delivered overburden removal of 299.8 million bcm and coal of 35.1 million ton.  Net revenue increased from USD566 million in 2015 to US$ 611 million in 2016.  EBITDA also improved from US$186 million to US$217 million in 2016 as the result of improvement in volume, productivity and various cost efficiency measures.

The press release further noted that the company has generated free cash flows of US$107 million after investment of US$126 million in capital expenditure.  Outstanding debt was reduced by a net of US$ 73 million throughout 2016, resulting in net debt position of US$497 million and net debt to EBITDA ratio of 2.3x.

As announced previously, the company said, the Company has signed several contracts throughout 2016 consisting mostly of contract extensions to life of mine and some, with significant additional volume.

Contracts signed were
(i) contract extension with PT Tadjahan Antang Mineral valued at ~US$288 million,
(ii) contract amendments with PT Berau Coal valued at ~US$3 billion,
(iii) with PT UPS Sidrap Bayu Energy valued at ~US$4 million,
(iv) contract extension with PT Adaro Indonesia valued at ~US$428 million, and
(v) a new contract with PT Angsana Jaya Energi valued at ~US$66 million.

The company further said the total contract on hand with customers is around US$ 5 billion.

With the turnaround of the operations, existing contract on hand, much-improved balance sheets position and the recovery of coal price; the management believes that this is an exciting time and the Company looks forward to profitable growth in the future, the company has concluded.


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Friday, 24 March 17
ADARO INDONESIA'S COAL SALES VOLUME INCREASED SLIGHTLY TO 54.1 MILLION TONES IN 2016
COALspot.com: PT. Adaro Indonesia, Indonesia’s second largest coal miner’s sales volume increased slightly to 54.1 million tones (Mt) i ...


Friday, 24 March 17
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COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.1 million short tons ...


Thursday, 23 March 17
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Supramax In the Pacific the market seems somewhat slower this week, although healthy rates still being achieved said Fearnleys in its latest week ...


Thursday, 23 March 17
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Wednesday, 22 March 17
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