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, 28 July 21
IN THE PHILIPPINES, COAL’S DEMISE MAKES WAY FOR A RENEWABLE ENERGY BOOM - IEEFA
Imported gas lock-in could undermine the economic benefits of a clean energy transition
The Philippines’ energy sector is on t ...
Wednesday, 28 July 21
MARKET INSIGHT - INTERMODAL
Assessing the ship repair sector during this first half of the year, we continue to come across surprises and new restrictions which are trembling ...
Saturday, 24 July 21
UNDERSTANDING INDIA'S LATEST PEAK POWER DEMAND RECORD - IEEFA
Ramping up solar will be crucial as peak power demand hits during the day
At around noon on 7 July 2021, India’s instantaneous ...
Wednesday, 21 July 21
MARKET INSIGHT - INTERMODAL
Dry Buk Sales and Purchase activity has heated up during 2021, reaching record high levels during the first half of the year. The increased interes ...
Monday, 19 July 21
CHINA'S COAL OUTPUT UP 6.4 PCT IN H1 - XINHUA
China’s raw coal output climbed 6.4 percent year on year to 1.95 billion tonnes in the first six months of the year, official data showed.
...
|
|
|
Showing 516 to 520 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Bhatia International Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- The University of Queensland
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
|
| |
| |
|
