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Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
 The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The company, Asean's largest coal miner, blamed the worse-than-expected results on a drop in coal prices, higher fuel costs and the baht's appreciation over the past year.
CEO Chanin Vongkusolkit said the decline in net profit for the quarter ending in March reflected a lower-than-expected average selling price of US$66.27 per tonne, down by 21% from $84.20 a year earlier.
The fall in price was triggered by a poorer market environment in mid-2009, when the company's coal contracts for this quarter were priced.
In line with coal's price volatility, Mr Chanin said Banpu would maintain its yearly sales target at 57 million baht, as in 2009, even though its coal production is targeted to rise to 23 million tonnes from 21 million tonnes last year.
"We target an average selling price of between $65 and $70 per tonne," said Mr Chanin.
But net profit from the power business rose by 11% year-on-year to 1.26 billion baht in the first quarter, thanks to a significant improvement in the company's power operations led by the BLCP Power plant, which resumed operation after an annual shutdown for maintenance late last year.
Despite lower profit, Banpu's total sales rose by 12% year-on-year to 15.2 billion baht, with coal operations providing 89% and the power business 11%.Coal sales were driven by an expansion in Indonesian coal mines in 2009. The company operates five coal mines in Indonesia and has equity in coal and combined-heat power plants in China.
Banpu's Chinese coal business performed well, with sales up 100% from the previous quarter to 1 billion baht, but down 8% year-on-year, he added.
The company recently acquired 14.9% of Sydney-based Centennial Coal Co, a mining company in Australia valued by analysts at about 8.3 billion baht.
Mr Chanin described the investment as a strategic move that takes into account a new tariff for coal mining introduced by Australia's government on environmental grounds.
"Australia is still the major coal exporting country with an advanced, transparent regulatory framework. The investment in Australia fits in well with Banpu's portfolio on top of our coal operations in Indonesia and China," he said.
Despite its lower net income, analysts expect Banpu's second-quarter earnings to improve from the first quarter as stronger demand raises coal sales.
BLCP's contribution should also gain from higher power demand in line with record demand this year. The investment in Centennial should contribute dividend income to Banpu of about 170-200 million baht a year, or about 1.2% to 1.4% of net profit in 2010.
Shares of Banpu closed yesterday on the SET at 626 baht, down by 12 baht, in trade worth 1.4 billion baht.
Source: Bangkokpost (By:Yuthana Praiwan )
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Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
Wednesday, 04 August 10
MALAYSIA'S AGATE GROUP TIES UP WITH INDIA'S ECOGREEN TO DEVELOP COAL BUSINESS
COALspot.com: "Malaysian based AGATE Group had entered into an agreement with India's EcoGreen to jointly develop coal business in India ...
Wednesday, 04 August 10
ADARO PRODUCED 21.62 MILLION TONS OF COAL IN 1H 2010
COALspot.com: “Adaro Energy’s production volume during the second quarter of 2010 was 10.26 million tones and for the first half of 2010 ...
Wednesday, 04 August 10
CIL TO TAKE UP NEW PROJECT TO MEET INCREASED DEMAND OF COAL
As part of Annual Plan 2010-11, Planning Commission has projected all India demand of coal 656.31 Million Tonnes against which the indigenous supply ...
Tuesday, 03 August 10
INDONESIA CONSIDERING RUPIAH DENOMINATION
The jakarta post reportd that, the central bank is deliberating a potential Rupiah denomination in light of decreasing exchange rate valuations agai ...
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- Leighton Contractors Pty Ltd - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
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- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
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- Australian Coal Association
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- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- London Commodity Brokers - England
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- Semirara Mining and Power Corporation, Philippines
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- Central Electricity Authority - India
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- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
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- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
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- India Bulls Power Limited - India
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- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
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- Orica Australia Pty. Ltd.
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- Ministry of Mines - Canada
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- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
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- Indian Oil Corporation Limited
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- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
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- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
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- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
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- MS Steel International - UAE
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- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
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- The Treasury - Australian Government
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
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- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
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- The University of Queensland
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- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
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- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
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- Vedanta Resources Plc - India
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- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
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- White Energy Company Limited
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