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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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Sunday, 11 July 21
COAL SHOWS ITS STAYING POWER AS ECONOMIES BOUNCE BACK - THE WALL STREET JOURNAL
Coal use is surging in some of the world’s largest economies as electricity demand rebounds from the pandemic, illustrating the challenges to ...
Sunday, 11 July 21
ROBUST CHINA COAL DEMAND AMID AUSTRALIA IMPORT BAN FUELS PRICE RALLY - REUTERS
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG) ...
Saturday, 10 July 21
OVERESTIMATED LCOES OF COAL-FIRED POWER PLANTS CREATE A FINANCIAL BUBBLE - IEEFA
Massive stranded asset risk detrimentally affects the financial and power distribution
India’s future coal-fired power project pipeline ...
Friday, 09 July 21
EIA FORECASTS COAL’S GENERATION SHARE IN U.S TO RISE FROM 20% IN 2020 TO 24% THIS YEAR BUT TO FALL TO 22% NEXT YEAR
The July Short-Term Energy Outlook (STEO) of EIA remains subject to heightened levels of uncertainty related to the ongoing economic recovery from ...
Friday, 09 July 21
KOREA SOUTH-EAST POWER CO., LTD. INVITES BIDS FOR 1.86 MILLION TONS OF COAL OF 5600 & 4000 NCV COAL FOR THREE YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 280,000 – 300,000 MT of Min. ...
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- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Bhatia International Limited - India
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