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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, 27 February 21
FITCH RATINGS REVISES GLOBAL METALS AND MINING PRICE ASSUMPTIONS
Fitch Ratings has revised some of its metals and mining price assumptions as prices for many commodities will benefit in the short term from return ...
Saturday, 27 February 21
MITSUBISHI PULLS OUT OF VINH TAN 3 COAL PROJECT IN VIETNAM - NIKKEI ASIA
Japanese trading house Mitsubishi Corp. decided Thursday to withdraw from the Vinh Tan 3 coal-fired power plant project in Vietnam amid growing int ...
Thursday, 25 February 21
ARE WE ON THE CUSP OF ANOTHER MINING SUPER-CYCLE? - WOOD MACKENZIE
As the first wave of the coronavirus pandemic began to bite, many observers confidently predicted that the end was nigh for global economic activit ...
Thursday, 25 February 21
2020 PROVED TO BE A TRULY TERRIBLE YEAR FOR SEABORNE COAL TRADE - BANCHERO COSTA
Total loadings in the 12 months of 2020 were down -12.7% year-on-year to 1,130 million tonnes, according to vessels tracking data from Refinitiv, s ...
Wednesday, 24 February 21
MARKET INSIGHT - INTERMODAL
With yields of up to 563%, the shares of Greek shipping companies listed on Wall Street are recorded. The Coronavirus pandemic has not significantl ...
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Showing 631 to 635 news of total 6871 |
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- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- The University of Queensland
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
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- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
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- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
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