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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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Thursday, 10 June 21
INDONESIA COAL EARNINGS RECOVERY TO SLOW AFTER STRONG 1Q - FITCH RATINGS
Fitch Ratings expects the recovery in operating and financial performance of Indonesian coal miners and coal contractors to slow during rest of 202 ...
Thursday, 10 June 21
U.S. COAL PRODUCTION TO TOTAL 600 MMST IN 2021, 11% MORE THAN IN 2020 - EIA
EIA expects U.S. coal production to total 600 million short tons (MMst) in 2021, which is 61 MMst (11%) more than in 2020.
The increase is dri ...
Wednesday, 09 June 21
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
The In-Person Maritime Event
SHIPTEK INTERNATIONAL CONFERENCE & AWARDS 2021
culminates successfully in Dubai
Press Release: ...
Wednesday, 09 June 21
MARKET INSIGHT - INTERMODAL
“Counter cyclical investments.” usually take place by investing in a “bad” market at the point that ensures that the acquir ...
Saturday, 05 June 21
KOMIPO INVITED 5600 NAR COAL OFFERS FOR THREE YEARS SUPPLY; 520,000 MT PER YEAR
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) has issued an international tender for total 1,560,000 MT of Bituminous Coal to be used a ...
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- Aboitiz Power Corporation - Philippines
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- Global Coal Blending Company Limited - Australia
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- Bangladesh Power Developement Board
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- The University of Queensland
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- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
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- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
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- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
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- IEA Clean Coal Centre - UK
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- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
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- Semirara Mining Corp, Philippines
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- Cigading International Bulk Terminal - Indonesia
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- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
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- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
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- Mintek Dendrill Indonesia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
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- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
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- Jaiprakash Power Ventures ltd
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- Alfred C Toepfer International GmbH - Germany
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- Trasteel International SA, Italy
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- Global Business Power Corporation, Philippines
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- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
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- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
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- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
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- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
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