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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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Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
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