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.
|
|
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
Tuesday, 01 June 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.02 PCT - XINHUA
China Taiyuan coal transaction price index stood at 160.06 points Monday, down 0.02 percent week on week.
The index, released by Chi ...
|
|
|
Showing 561 to 565 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Planning Commission, India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- The Treasury - Australian Government
|
| |
| |
|
