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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, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
Wednesday, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
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- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- PTC India Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
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