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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Parliament of New Zealand
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
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