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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- GMR Energy Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Minerals Council of Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Economic Council, Georgia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Planning Commission, India
- Salva Resources Pvt Ltd - India
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