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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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Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Australian Coal Association
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
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