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