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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, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
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Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- The University of Queensland
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
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