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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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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
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- PetroVietnam Power Coal Import and Supply Company
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- Indonesian Coal Mining Association
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- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
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- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- PTC India Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
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- Anglo American - United Kingdom
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- Coal and Oil Company - UAE
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- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
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- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
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- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
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- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
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- Altura Mining Limited, Indonesia
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- IHS Mccloskey Coal Group - USA
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
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- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
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- Mjunction Services Limited - India
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- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
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- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
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- Videocon Industries ltd - India
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