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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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Sunday, 16 May 10
INDIKA ENERGY & COAL ASSETS EXPANSION
Insider stories reported that, PT Indika Energy Tbk (INDY) has three portfolio coal assets, PT Kideco Jaya Agung, coal asset in East Kalimanta ...
Saturday, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
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- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Australian Coal Association
- Planning Commission, India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
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