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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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- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
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