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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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Tuesday, 15 June 10
INDONESIA'S COAL EXPORTS FELL TO 18.52 - MILLION TONS IN MAY
COALspot.com: Indonesia, the world largest coal exporter, shipped 18,529,695 of coal in May 2010. May coal exports dropped by 20.61 percent co ...
Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Agrawal Coal Company - India
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- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
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- New Zealand Coal & Carbon
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- Petron Corporation, Philippines
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- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
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- Ministry of Mines - Canada
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- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Minerals Council of Australia
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- Anglo American - United Kingdom
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- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
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- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
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- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
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- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
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- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
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- Videocon Industries ltd - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
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- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
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- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
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- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
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- Alfred C Toepfer International GmbH - Germany
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- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
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- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- The University of Queensland
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- Merrill Lynch Commodities Europe
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