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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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Saturday, 05 June 21
IT'S TIME FOR THE BIDEN ADMINISTRATION TO CHAMPION RENEWABLE ENERGY IN THE PHILIPPINES, NOT NUCLEAR OR FOSSIL GAS - IEEFA
Fossil gas and nuclear investments risk locking in costly, outdated infrastructure for the long-term
The United States has spent the ...
Friday, 04 June 21
NEW COAL-FIRED POWER PLANTS IN INDIA WILL BE ECONOMICALLY UNVIABLE - IEEFA
Coal capacity additions face major stranded asset risk
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under co ...
Thursday, 03 June 21
JUNE HBA IS HITTING ABOVE $100 AND SETTLED AT ITS HIGHEST SINCE OCTOBER 2020
COALspot.com: The Indonesia coal price reference for June 2021 settles at US$ 100.33 per ton FOB vessel.
The Indonesia coal pr ...
Wednesday, 02 June 21
INDONESIA RV WAS DOWN TO LOW/MID $20,000S DAY FOR PANAMAX/KAMSARMAX WITH DELIVERY S CHINA - BANCHERO COSTA
Panamax
A softening week in the Pacific basin with rates under a downward pressure mainly caused by the oversupply of tonnage in the area, said ...
Wednesday, 02 June 21
EUROPEAN UNION'S IRON ORE IMPORTS - BANCHERO COSTA
The European Union (27) is currently the fourth largest importer of iron ore in the world, after China, Japan, and South Korea.
Euro ...
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- Parliament of New Zealand
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
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