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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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Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
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- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
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