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Tuesday, 01 June 21
BUMA PRODUCED 11.4 MILLION TONNES OF COAL IN 4Q 2020, 5% LOWER COMPARED TO 12.2 MILLION TONNES IN 4Q 2019
 PT Delta Dunia Makmur Tbk. presents its newsletter with consolidated financial and operating results that include its primary and wholly-owned subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”).
According to the website of the company, PT Delta Dunia Makmur Tbk. or more commonly referred to as Delta Dunia is a publicly listed company established under the laws of the Republic of Indonesia and domiciled in Jakarta. The Company’s shares have been listed on the Jakarta Stock Exchange (currently Indonesia Stock Exchange) (“IDX”) since June 15, 2001. The Company was originally established on November 26, 1990 under the name of PT Daeyu Poleko Indonesia. Since then the Company has undergone several name changes over the years, and lastly, was named PT Delta Dunia Makmur Tbk. in 2009.
In November 2009, the Company acquired 99.9% shares of BUMA and subsequently, divested its property business. Since then, the Company’s main business has been focused on coal mining contractor services.
As a holding company, the Company has an operational subsidiary, PT Bukit Makmur Mandiri Utama (“BUMA”), which is one of the largest coal-mining contractors in Indonesia by production volume. While its other two subsidiaries, namely PT Banyubiru Sakti (“BBS”) and PT Pulau Mutiara Persada (“PMP”) are non-active entities previously holding coal exploration permits.
PT Delta Dunia Makmur recorded an improved EBITDA margin YoY of 29.4% for FY 2020, despite 31% decline of EBITDA YoY of US$164 million on the back of COVID-19 pandemic and prolonged weakness in the coal market throughout 2020, the company said in its latest newsletter.
According to the report, overburden removal volume for 4Q 2020 was 52.1 million bcm, 34% lower from 79.0 million bcm recorded in 4Q 2019. Coal production was 11.4 million tonnes in 4Q 2020, 5% lower compared to 12.2 million tonnes in 4Q 2019. Volume was weaker as customer tends to curb volume growth towards the end of 2020, given the overall lower demand from impact of COVID-19 pandemic. As rainy season has started, there has been increase in rain hours which also impacted Q4 2020 volume. Despite coal price starting to show recovery toward end of 2020, volume recovery is expected to lag.
The report further noted that, net revenues of the company for 4Q 2020 was US$108 million, 44% lower YoY than US$191 million recorded in 4Q 2019. EBITDA was US$13 million for 4Q 2020, a 68% decrease compared to US$39 million in 4Q 2019. Lower revenues were mainly the impact of low rates and certain relief measures provided to customers for mutual sustainability amid weakness in coal market. In anticipation of expected volume recovery in 2021, the Company also incurred upfront costs for reactivation of equipment and people in Q4 2020, further impacting EBITDA.
Net loss of US$19 million was recorded for 4Q 2020 compared to US$8 million net loss in previous year. The pandemic has weakened the global and coal market throughout 2020, affecting the Company’s profitability from slower business activities, despite aggressive cost efficiency measures taken to address the issue.
With prudent liquidity preservation measures, the company said, cash flows remained strong with free cash flows generation at US$234 million and operating cash flows at US$153 million in FY 2020. Total capital expenditure spent was US$24 million for FY 2020, 67% lower compared to the same period last year as we optimized existing capacity. With net debt of US$425 million as of December 31 st, 2020, the Company’s consolidated net debt to EBITDA ratio was 2.2x.
Given the rebound in coal price towards the end of the year which continued to strengthen in the beginning of 2021, gradual volume recovery is expected in 2021 on the back of coal 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.
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
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Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Neyveli Lignite Corporation Ltd, - India
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- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
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- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
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- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
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- The University of Queensland
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- Indika Energy - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
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- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
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- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
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- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Economic Council, Georgia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
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- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
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- Independent Power Producers Association of India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
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- Toyota Tsusho Corporation, Japan
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- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
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- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Semirara Mining Corp, Philippines
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- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
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- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
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- Thiess Contractors Indonesia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
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- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
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- Merrill Lynch Commodities Europe
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- Australian Coal Association
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- White Energy Company Limited
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- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
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- Georgia Ports Authority, United States
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