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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- PTC India Limited - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
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