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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- White Energy Company Limited
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Planning Commission, India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
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