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