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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- The University of Queensland
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Minerals Council of Australia
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- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
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