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, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
|
|
|
Showing 46 to 50 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
|
| |
| |
|
