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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- White Energy Company Limited
- Australian Coal Association
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
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