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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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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Economic Council, Georgia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
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