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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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Wednesday, 07 April 21
MARKET INSIGHT - INTERMODAL
Following the end of the catholic easter, during which the majority of shipping market participants were on holidays, it is interesting to note a f ...
Wednesday, 07 April 21
COAL USED TO GENERATE ELECTRIC POWER IN U.S. WILL INCREASE BY 13 PERCENT TO 495 MMST IN 2021 - EIA
EIA expects U.S. coal production to total 585 MMst in 2021, 46 MMst (9%) more than in 2020. In 2022, EIA expects coal production to grow by an addi ...
Wednesday, 31 March 21
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.12 PCT - XINHUA
China Taiyuan coal transaction price index stood at 139.03 points Monday, up 0.12 percent week on week.
The index, released by China ...
Wednesday, 31 March 21
MARKET INSIGHT - INTERMODAL
Over the past week, the biggest story has been the blockage of the Suez Canal, as a result of the grounding of the container ship Ever Given. At th ...
Monday, 29 March 21
MOODY'S: OUTLOOK FOR GLOBAL METALS AND MINING INDUSTRY TURNS POSITIVE ON HIGHER EBITDA IN PANDEMIC'S WAKE
- Demand for steel, iron ore and copper will rise, while aluminum, nickel and zinc will remain in surplus
- EBITDA is expected to ...
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- Ceylon Electricity Board - Sri Lanka
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- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- The University of Queensland
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- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
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- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
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- Price Waterhouse Coopers - Russia
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- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- PTC India Limited - India
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
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- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
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- AsiaOL BioFuels Corp., Philippines
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- Pipit Mutiara Jaya. PT, Indonesia
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- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
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- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Planning Commission, India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Australian Coal Association
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
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- Agrawal Coal Company - India
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
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- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
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- Bukit Baiduri Energy - Indonesia
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