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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, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Parliament of New Zealand
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
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