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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- PTC India Limited - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
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