Harga Batu Bara Panas-Dingin, Emiten Pelayaran Diversifikasi Bisnis

Summary

The script discusses the fluctuating coal mining industry, noting price stabilization around $120-$130 per metric ton, despite previous highs of $400 in 2021. It highlights the company's diversification strategy into nickel, iron, cement, and food industries, while still prioritizing coal for power plants. Challenges include weather, regulatory issues, and market fluctuations, yet the company remains optimistic about meeting targets, with a focus on maintaining profitability and adjusting operations as needed.

Takeaways

• 📈 The coal mining industry is experiencing fluctuations in commodity prices, with the current price of coal remaining higher than pre-pandemic levels, which were between $70 to $90 per metric ton, and now around $120 to $130.
• 💰 Despite the price fluctuations, the industry is still profitable, with companies able to maintain significant profit margins even if they are not as high as during the peak price of $400 per metric ton in 2021.
• 🌐 The company has a strategy to diversify its transportation services beyond coal, supporting industries such as nickel, steel, cement, fertilizer, and even food transport by ship.
• 🛳️ The company's main priority currently is to support power plants and smelters with coal and nickel transportation, with ships primarily deployed for these needs.
• 📊 In 2023, the company achieved a revenue of 575.67 billion, which is a 55.03% increase year-on-year compared to 2022, mainly contributed by transportation and demurrage segments.
• 🔮 For 2024, the company is confident in achieving targets that are within a plus-minus 5% deviation, despite challenges such as weather issues, regulatory concerns, and price fluctuations.
• 🚢 Utilization of ships is crucial for profitability; any decrease in volume due to weather or regulatory issues can lead to a drop in unit prices and affect profit margins.
• 🔄 The company is prepared to perform maintenance on ships when volume decreases to ensure readiness when demand increases, avoiding being pushed to the operational limit.
• 🏦 Government regulations, including the latest on Domestic Market Obligation (DMO) or export revenue repatriation, can affect the industry, with both positive and negative impacts.
• 💡 The positive aspect of such regulations is maintaining the value of the rupiah and ensuring domestic liquidity, while the challenge is that smaller-scale mines might face cash flow issues.
• 🤝 The company is in discussion with minor miners to find win-win solutions regarding cash flow management under the new regulations.

Q & A

What is the current state of the coal mining industry according to the transcript?

The coal mining industry is experiencing fluctuations in prices, with the current price being higher than before the pandemic, around $120-130 per metric ton, compared to $70-90 before the pandemic. The industry has seen a normalization in prices, and it is still profitable for businesses involved.

How has the fluctuation in coal prices affected the profitability of the industry?

Despite the fluctuations, the coal industry is still profitable, with businesses able to make significant profits due to the higher prices compared to the pre-pandemic period.

What strategies are companies adopting to mitigate the impact of price fluctuations?

Companies are diversifying their transportation services, supporting not only the coal industry but also other industries such as nickel, steel, cement, and food transportation. This diversification helps to mitigate risks associated with price fluctuations.

What is the impact of the current coal prices on the operational and financial performance of companies?

While the current coal prices are still above the average, which is beneficial for the companies, there is a slight reduction in profit margins compared to when coal prices were at $400 per metric ton. However, companies are still able to make profits.

What are the main challenges faced by the shipping industry in relation to the coal industry?

The main challenges include weather issues, regulatory changes, and price fluctuations of commodities like nickel. These factors can affect the volume of shipments and the unit price of transportation, impacting profitability.

How does the company plan to deal with potential decreases in shipment volume?

The company plans to perform maintenance during periods of low volume to ensure readiness when the volume increases. This approach helps to avoid pushing the units to their limits and maintains operational efficiency.

What was the financial performance of the company in 2023, and what is the projection for 2024?

In 2023, the company recorded a revenue of 575.67 billion, which is a 55.03% increase year-on-year compared to 2022. For 2024, the company is confident in achieving its targets, with a slight deviation of plus or minus 5%.

What is the target for net profit set by the company for the fiscal year?

The target for net profit set by the company is 238 billion.

What are the main factors affecting the profit margin in the shipping industry?

The main factors affecting the profit margin include the utilization of ships, volume of shipments, and market price fluctuations. Any decrease in volume or drastic price drop can lead to a reduction in the unit price of transportation, affecting profits.

How does the government's regulation on Domestic Component of Export (DHE) impact the industry?

The introduction of DHE has pros and cons. On the positive side, it helps maintain the value of the rupiah and keeps liquidity within the country. However, it may pose challenges for small-scale mines in managing their cash flow.

What is the company's strategy in response to government regulations and market conditions?

The company's strategy includes maintaining a balance between diversification and specialization, ensuring readiness for changes in volume, and working closely with stakeholders to find win-win solutions.

Outlines

00:00

📈 Fluctuating Coal Prices and Business Strategies

The first paragraph discusses the volatility of coal prices and their impact on the mining industry. It reflects on how prices have risen from pre-pandemic levels of 70-90 US Dollars to the current 120-130 US Dollars per metric ton. Despite the fluctuations, the industry is still profitable, with companies able to make significant profits. The speaker mentions the normalization of coal prices and the strategies companies might employ to mitigate risks, such as maintaining prices above the average to ensure profitability. There's also a mention of diversification in transportation to support other industries like nickel and steel, alongside the mainstay of coal and nickel transportation. The paragraph concludes with a look at the company's financial performance, noting a significant year-on-year increase in revenue and the contribution of the transportation and demurrage segment.

05:01

🚢 Challenges and Strategies in the Shipping Industry

The second paragraph delves into the challenges faced by the shipping industry, particularly focusing on the utilization of ships and the impact of weather issues or regulatory changes on profitability. It highlights the importance of maintaining a balance between ship utilization and profitability margins. The speaker discusses strategies to manage fluctuations in volume, such as performing maintenance during low periods to ensure readiness when demand increases. Additionally, the paragraph touches on recent government regulations regarding export earnings and their implications for the industry, including the potential benefits of maintaining the value of the domestic currency and the challenges faced by small-scale mines in managing cash flow.

Keywords

💡Mining

Mining refers to the extraction of minerals from the earth, which in this context is related to the fluctuating business of coal mining. The script discusses the ups and downs in coal prices, which are a significant factor in the mining industry's profitability. For example, the script mentions that coal prices have been higher than before the pandemic, reaching up to 120 to 130 US Dollars per metric ton.

💡Commodity

A commodity in this script is a basic good used in commerce that is interchangeable with other goods of the same type and quality, such as coal. The discussion revolves around the volatility of commodity prices, particularly coal, which affects the overall business environment and financial performance of related companies.

💡Fluctuation

Fluctuation refers to the constant change or instability in value or level. In the script, it is used to describe the unpredictable nature of coal prices, which have been influenced by various market factors and have significant implications for the profitability and operational strategies of companies involved in the industry.

💡Profit Margin

Profit margin is the measure of profitability of a company or business activity, calculated as the difference between revenue and production costs. The script discusses how high coal prices in the past offered a 'thicker' profit margin, but current prices, although still profitable, have led to a slight reduction in profit margins.

💡Diversification

Diversification in business refers to the strategy of spreading investments across various types of assets to mitigate risk. The script mentions that the company has started diversifying its transportation services beyond coal to support other industries such as nickel, steel, cement, and even food transportation.

💡Power Plant

A power plant is a facility for the generation of electricity. In the script, it is mentioned that the company's main priority is to support power generation from coal and nickel, indicating the importance of these energy sources in the current energy mix.

💡Contract

A contract in this context is an agreement between two or more parties that creates obligations and gives each party the right to receive or to perform. The script mentions that the company has a contract with Indonesia Chingsan, which involves deploying ships for coal transportation.

💡Revenue

Revenue refers to the income generated from the business's operations, usually from the sale of goods or services. The script highlights the company's revenue growth, with an increase of 55.03% year-on-year, indicating the company's financial performance.

💡Challenges

Challenges in this script refer to the difficulties or obstacles faced by the company in its operations. It mentions issues such as weather conditions, regulatory changes, and market fluctuations in coal and nickel prices as factors that pose challenges to the industry.

💡Utilization

Utilization in the context of the script refers to the use or application of resources, specifically ships, in the company's operations. The script discusses the importance of ship utilization for maintaining profitability and the impact of reduced volume on the company's ability to generate profit.

💡Maintenance

Maintenance in this context is the process of keeping machinery, vehicles, or equipment in good working order. The script suggests that during times of reduced volume, the company could perform maintenance on its ships to ensure they are ready for operation when the volume increases.

💡Regulation

Regulation refers to the rules or directives made and maintained by an authority. The script mentions new government regulations related to export earnings and exchange rates, which can affect the shipping and mining industries and their strategies for managing cash flow.

Highlights

The mining industry's price fluctuations have normalized compared to the highs of 2021.

Coal prices have stabilized around $120-$130 per metric ton, higher than pre-pandemic levels.

The business is highly influenced by commodity prices, particularly coal.

Despite price fluctuations, the current coal price still allows for significant profits.

The company has experienced a decrease in profit margins but remains profitable.

There is a strategy in place to mitigate the impact of price volatility.

The company is diversifying its transportation services beyond coal and nickel.

Opportunities exist to support other industries such as cement, fertilizer, and food transport.

The company's current focus is on coal transportation for power plants and nickel ore.

HTM has contracts with Indonesia Chingsan, primarily for coal transportation.

The company is prepared to adjust its fleet deployment based on market needs.

HTM reported a 55.03% increase in revenue in 2023, largely due to transportation and demurrage segments.

The company is confident in meeting its targets for 2024, despite initial challenges.

There have been challenges in the industry, including regulatory changes and market fluctuations.

The company aims to achieve a net profit of 238 billion for the fiscal year.

As of May 31, the company has achieved 70 billion in net profit, facing initial year obstacles.

The most critical issue for the shipping business is the utilization of ships and volume of transport.

The company may perform maintenance during low volume periods to prepare for increased demand.

Government regulations, including recent changes to export revenue regulations, impact the industry.

The introduction of DHE (Domestic Market Obligation) has both pros and cons for the industry.

Small-scale mines may struggle with cash flow adjustments due to new regulations.

Transcripts

kita mencoba melihat dari sisi e mining

price-nya atau mungkin dari sisi call

mining price-nya yang memang sudah ya up

and down sudah tidak setinggi waktu

tahun 2021 mungkin di mana Kita pernah

mencapai ke 400 dolar gitu ya per Metrik

tons dan sekarang sudah mulai di

normalisasi kalau kata orang-orang

sampai dengan kita lihat Bagaimana

sebenarnya bisnis ini cukup e

berfluktuasi dengan adanya komoditi

batuara yang up and down Anda melihatnya

Seperti apa eh tentunya kalau kita lihat

harga batubara saat ini masih eh lebih

tinggi ya daripada harga batubara

sebelum pandemi di mana sebelum pandemi

kita melihat harga batubara di antara 70

sampai 90 US Dollar seangkan sekarang

itu ee masihabil di 120 130 Jadi untuk

sementara memang ee masih sangat baik he

harganya

em semua orang masih bisa membukan

keuntungan yang cukup signifikan dan EE

kita melihat trennya sih untuk tahun ini

sepertinya akan akan stabil di di level

120 sampai 130 Oke berarti ini belum

belum dikatakan bahwa level-level ini

cukup kemudian mengganggu operasional

dari sisi perseroan atau mungkin

kemudian agak mengganggu kinerja

finansial karena kita pernah merasa ada

di pick e price-nya si batubara ini atau

seperti apa sih kalau di industri

pelayaran sendiri nih Pak E Andrew ya

mungkin kalau di saat harga 400 itu

marginnya mungkin lebih tebal ya Te

Kalau sekarang mungkin agak sedikit

berkurang tapi belum ee belum sakitlah

He masih masih bisa membukukan profit

Oke kalau kita based on call e price-nya

sendiri kan memang ini cukup e up and

down ya kalau dari perusahaan sendiri

Ada enggak sih strategi begitu ya untuk

memitigasi karena mungkin e mesti masih

di atas se harga rata-rata karena kita

tahu dulu mungkin di Kisaran 80 sampai

100 eh dolar per Metrik tons gitu ya

sekarang masih di atas itu Tetapi kan

kita tahu bahwa ada ada look up dunia

tentang fosil energi tentang batubara

dan keberlanjutannya nah ini akan

seperti apa si sih Anda melihatnya gitu

kalau dari sisi strategi perusahaan ee

tentunya kalau dari strategi perusahaan

sendiri Kita sudah mulai

mendiversifikasi angkutan kita misalnya

ee sekarang kita ada mendukung industri

nikel juga ada juga industri ee besi dan

EE tentunya ada juga peluang-peluang

lain seperti misalnya kita untuk e

mendukung industri semen atau

pupuk atau bahkan bahan makanan

sebenarnya bisa diangkut di kapal-kapal

kita gitu Em tapi memang untuk saat ini

masih didominasi oleh EE kebutuhan untuk

industri eh power plant batubara dan

juga nikel gitu batubara dan nikel ya

berapa tuhentasinya kalau di HTM Em

kalau untuk sekarang memang kita kan

punya kontrak dengan Indonesia chingsan

Seal eh chingsan group ee untuk saat ini

kapal kita memang dideplloy untuk batu

bara He gitu tapi tidak menutut

kemungkinan bahwa itu akan diddeplloy

untuk ee mengangkut kargo dikelnya juga

oke oke Jadi sekarang priori utama

adalah si batuara ini ya Iya untuk

mendukung eh Power Plan power Generation

dari dari smelter mereka he he ini

menarik sebenarnya untuk kita melihat

bagaimana 2023 HTM ini ee membukukan

pendapatan sebesar

575,67 miliar atau ini naik ya

55,03% Secara year oner kalau

dibandingkan Tahun

2022 yang lalu ya dan memang yang lebih

eh kontributornya adalah lebih ke

pengangkutan dan juga eh segmen

demourage yang sebesar 9,3 R miliar Nah

ini kan sekarang 2024 sudah running

hampir 6 bulan satu semester begitu ya

bagaimana eh lookup-nya Apakah cukup

similar dengan 2023 atau ada kayak n

tantangan tersendiri nih di pelayaran

industri di tahun ini Tentunya kalau di

kita ngomong challenges di industri ini

untuk tahun ini kita bisa

eh ada beberapa ya pertama awal tahun

mungkin 1 2 bulan pertama ada isu rkb

ada isu e bad weather gitu tu tapi kalau

ee dan juga ada ada juga fluktuasi harga

nikel yang cukup drastis kemarin jadi ee

memang ada beberapa challenges tapi

kalau di perseroan sendiri sih kami

masih yakin untuk target kita kita bisa

ee mencapai mungkin plus minus 5% Oke Eh

jadi masih sangat-sangat e acceptable

untuk untuk deviasinya begitu oke untuk

tahun ini sendiri untuk pertumbuhan laba

sendiri targetnya berapa Pak andreu di

sepanjang atau mungkin proyeksi sampai

dengan fulier 2 24 dan Pencapaian sampai

dengan saat ini seperti apa ee kalau

kita untuk target fier kita kemarin set

di 238 Miliar untuk laba bersihnya Oke

He em Pencapaian sampai dengan

sekarang per 31 Mei Kalau tidak salah 70

miliar karena ee ya itu kita lagi

playing Ketchup karena adanya

hambatan-hambatan di awal tahun gitu he

he hambatan apa sih yang paling besar

sebenarnya untuk running bisnis eh

pelayaran begitu ya seperti yang dialami

oleh hatm sendiri nih sejauh ini yang

mungkin dilihat yang bisa jadi ee barer

atau mungkin jadi ya kendala untuk eh

make it profit margin gitu ya seperti

apa sih Pak Andrew Eh kalau dilihat yang

paling krusial sebenarnya adalah

utilisasi kapal ya jadi volume

angkutannya sendiri gitu Kalau misalnya

ada isu weather atau isu rkb itu di mana

atau bahkan kalau harga drop drastis

dalam waktu yang singkat itu kan ee akan

ada kekurangan volume sehingga banyak

kapal yang EE berebut volume ya jadi itu

akan membuat ee unit price dari angkutan

kita sendiri turun jauh sehingga ee akan

sedikit kesulitanlah untuk untuk kita

bisa mukan profit gitu He nah ini kalau

hal-hal seperti ini memang selalu e

terjadi mungkin di awal-awal tahun kan

ada ada ada beberapa yang harus dihadapi

perusahaan begitu ya untuk mengatur

strategi Apakah memang ya

kondisi-kondisi seperti ini memang biasa

nih terjadi dengan adanya apa namanya

utilisasinya untuk ee laut untuk apa

angkutan laut selalu di awal-awal

semester atau selalu di awal-awal tahun

memang kayak begini begitu ya Nah

strategi perusahaan sendiri untuk

memenuhinya itu seperti apa nih pak

Andru ee kalau untuk sekarang ya kita

bisa lihat Mungkin kita bisa kalau

misalnya volumenya berkurang kita bisa

melakukan maintenance supaya pada saat

ee sudah ready gitu ya begitu sudah

volumenya naik kita sudah ready untuk

untuk mengangkut itu gitu jadi enggak

dipush to the limit gitu ya untuk

unit-unit yang ada gitu Iya karena

ee mesin ini seperti orang juga ada ada

waktu istirahatnya Begitu he Oke Baik Ee

kita tahu ya bahwa mungkin bukan hanya

itu saja untuk di industri pelayaran

tapi ada juga beberapa

ketentuan-ketentuan ee yang dibuat oleh

pemerintah termasuk yang paling baru

Mungkin Pak Andrew juga eh update Gitu

ya untuk ee dhe inih ya untuk penetapan

ee dhe atau devisa hasil ekspor di dalam

negeri ini seperti apa sih karena kan

memang ini juga termasuk salah satu yang

kemudian membuat industri ini dan yang

lainnya industri pertambangan dan

industri pendukung lainnya ini kemarin

sempat juga ee

akhirnya berpikir Apakah ini termasuk

salah satu cara yang cukup menarik gitu

untuk menarik dhe dalam negeri untuk

menjaga juga nilai tukar kita nah ini

seperti apa Anda melihatnya ee Iya

dengan adanya dhe ini sebenarnya yang

ada pro dan cons-nya sendiri ya Em

pronya ya itu em nilai itu kita terjaga

jadi

em rupiah cukup kokoh ya melawan dolar

walaupun dengan berbagai ee macam

rintangan dan juga Walaupun ada

Pelemahan tapi pelemahannya mungkin

masih masih bisa ditoleransi He em kedua

likuiditas dalam negeri kan terjaga

jadinya He em knya adalah beberapa

tambang yang e skala kecil mungkin agak

syok dengan pengaturan cash flow gitu

jadi ya itu adalah sesuatu yang kita eh

diskusikan dengan dengan minor-miner

sendiri jadi kita eh mencari win-win

Solution