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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- OPG Power Generation Pvt Ltd - India
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- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
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- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
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- Ministry of Finance - Indonesia
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- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
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- Tamil Nadu electricity Board
- The University of Queensland
- Australian Coal Association
- Coal and Oil Company - UAE
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- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
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- TeaM Sual Corporation - Philippines
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- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Economic Council, Georgia
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- Singapore Mercantile Exchange
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- Petron Corporation, Philippines
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- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
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- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
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- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
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- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
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- Africa Commodities Group - South Africa
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- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
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- Thiess Contractors Indonesia
- ASAPP Information Group - India
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- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
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- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
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- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
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- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
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- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
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