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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, 29 April 10
KANGAROO RESOURCES INKS KEY COAL EXPORT CONTRACT WITH YUDEAN FARNON - PROACTIVE INVESTORS
Proactive Investors reprted that, Kangaroo Resources has secured an initial export sales contract for coal from the company’s operating coal p ...
Wednesday, 28 April 10
UNITED TRACTORS FOCUSES ON MINING AS IT SEEKS TO DIVERSIFY REVENUE SOURCES - JG
The Jakarta globe reported that, PT United Tractors, Indonesia’s biggest heavy-equipment distributor and mining contractor, aims to have its m ...
Wednesday, 28 April 10
DRY BULK MARKET
After a prolonged period of anticipation and a stalled dry bulk market in terms of freight rates, the industry’s benchmark, the Baltic Dry Ind ...
Tuesday, 27 April 10
CAPESIZES UP, PANAMAXES DOWN - BRS
It was Capesizes up, Panamaxes down this week as the latter experienced a correction after its recent gains. Period rates for Panamaxes remain firm ...
Tuesday, 27 April 10
S.KOREA EWP SEEKS 0.520 MILLION TONS OF SUB-BITUMINOUS COAL
COALspot.com: South Korea East West Power Company has called for term bids for supply of Sub-bituminous Coal for Dangjin Thermal Power Pla ...
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- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Planning Commission, India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
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