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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Planning Commission, India
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
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