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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Minerals Council of Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
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