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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.
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
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 ...
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- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
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- Port Waratah Coal Services - Australia
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- Georgia Ports Authority, United States
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- Gujarat Mineral Development Corp Ltd - India
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- Petron Corporation, Philippines
- Latin American Coal - Colombia
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- Pendopo Energi Batubara - Indonesia
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- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
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- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
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- Commonwealth Bank - Australia
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- Price Waterhouse Coopers - Russia
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- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
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- Electricity Authority, New Zealand
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- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
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- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
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- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
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- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
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- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
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- ICICI Bank Limited - India
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- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
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- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
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- Australian Coal Association
- The University of Queensland
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- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
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- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
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- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
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- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
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- Indian Energy Exchange, India
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- Renaissance Capital - South Africa
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- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- White Energy Company Limited
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
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- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
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