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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Parliament of New Zealand
- The Treasury - Australian Government
- MS Steel International - UAE
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
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