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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- The University of Queensland
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Australian Coal Association
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
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