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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, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Planning Commission, India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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