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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 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Planning Commission, India
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- PTC India Limited - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
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