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.
|
|
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
|
|
|
Showing 56 to 60 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- The University of Queensland
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
|
| |
| |
|
