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.