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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, 13 August 21
INDONESIA’S COAL EXPORTS TO JAPAN DECLINED BY -26.3% YOY TO 11.9 MLN TONNES IN THE FIRST 7 MONTHS OF 2021; STILL THE SECOND LARGEST SOURCE FOR JAPAN’S COAL IMPORTS IS INDONESIA - BANCHERO COSTA
2020 proved to be a truly terrible year for global seaborne coal trade. Total global loadings in the 12 months of 2020 were down -12.7% year-on-yea ...
Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
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- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
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- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
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