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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 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
Friday, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
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- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
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