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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
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