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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, 27 August 21
THE ECONOMICS OF INDONESIA’S DIESEL POWER PLANT TO GAS CONVERSION PLAN ARE PROBLEMATIC - IEEFA
Deploying new small-scale LNG is an uphill battle for PGN
Indonesian gas is currently in a precarious position, where the government needs to ...
Thursday, 26 August 21
INDIA IMPORTED 17.06 MLN TONNES OF LPG IN 2020; UP 11.5% Y-O-Y
Global LPG trade remained fairly positive in 2020, despite the global economic impact from COVID-19, and surged strongly in the first half of 2021. ...
Thursday, 26 August 21
MARKET INSIGHT - INTERMODAL
24th of August 2021, the Baltic Dry Index reached 4,201, a YTD high and the highest since May 2010.
Cape 5TC daily average @ 51,472
...
Tuesday, 24 August 21
COAL PRICE RALLY TO PRESSURE CHINESE POWER GENCOS’ MARGINS FITCH RATINGS
Fitch Ratings expects the pressure on Chinese power generation companies’ (gencos) profit from the recent coal price surge to weaken their cr ...
Tuesday, 24 August 21
TIGHT POWER SUPPLY IN CHINA AMID STRONG DEMAND, HIGH COAL PRICES - FITCH RATINGS
China experienced tight power supply in 1H21 on stronger than expected power demand as economic activity continued to recover, Fitch Ratings says i ...
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- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- VISA Power Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
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