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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, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
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- ICICI Bank Limited - India
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- Minerals Council of Australia
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- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
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- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
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- New Zealand Coal & Carbon
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- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
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- Planning Commission, India
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- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
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- Alfred C Toepfer International GmbH - Germany
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- Wood Mackenzie - Singapore
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- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
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- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- McConnell Dowell - Australia
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- Anglo American - United Kingdom
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- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
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- Karbindo Abesyapradhi - Indoneisa
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- Merrill Lynch Commodities Europe
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- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
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- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
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- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- The University of Queensland
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
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- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
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- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Parliament of New Zealand
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- Thai Mozambique Logistica
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- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
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- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
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- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
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- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
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- Global Coal Blending Company Limited - Australia
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- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
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- Pipit Mutiara Jaya. PT, Indonesia
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- Price Waterhouse Coopers - Russia
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- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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