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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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- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
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