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.
|
|
Thursday, 01 July 21
WHY INDIA’S SOLAR POWER TARIFFS ARE CLIMBING AFTER HITTING RECORD LOWS LAST YEAR - IEEFA
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2 ...
Thursday, 01 July 21
END TO COAL POWER BROUGHT FORWARD TO OCTOBER 2024
Press Release: The deadline to phase out coal from Great Britain's energy system has been brought forward by a whole year, highlighting the UK& ...
Thursday, 01 July 21
WHY BUILD 600 NEW UNPROFITABLE COAL PLANTS? - DEUTSCHE WELLE
Governments in Asia are planning 600 new coal plants that could lose investors $150 billion and derail efforts to limit temperature rise in line wi ...
Thursday, 01 July 21
FIVE ASIAN COUNTRIES ACCOUNT FOR 80% OF NEW COAL POWER INVESTMENT - THE GUARDIAN
Five Asian countries are jeopardising global climate ambitions by investing in 80% of the world’s planned new coal plants, according to a rep ...
Wednesday, 30 June 21
BUMA SIGNED MINING AGREEMENT WITH ADARO
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into an agreement for the p ...
|
|
|
Showing 536 to 540 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Australian Coal Association
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- White Energy Company Limited
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
|
| |
| |
|
