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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- PTC India Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
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