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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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Monday, 26 April 10
COAL INDIA NEARS PORT DEAL WITH VIZAG STEEL - DNA
DNA India reported that, Coal India Ltd (CIL), the country’s largest coal producer, is close to signing a deal to acquire space at Vizag Steel ...
Sunday, 25 April 10
THE WAITING AT INDIAN PORTS FOR COAL VESSELS WAS QUITE NORMAL - VISTAAR
COALspot.com: The BDI remained unchanged this week and all other sectors also the change was not much.
The cape index continued to move up and wa ...
Saturday, 24 April 10
NTPC TO BUY COAL MINES IN KAZAKHSTAN - TELEGRAPH INDIA
Telegraph India reported that, NTPC Ltd plans to acquire coal mines and operate two thermal power plants in Kazakhstan.
“We are exploring t ...
Saturday, 24 April 10
CHINA'S COAL IMPORTS DOUBLE IN MARCH
China's General Administration of Customs said that the country imported 15.22 million tons of coal last month, more than double the amount it impo ...
Friday, 23 April 10
KPCL EYES MINE IN INDONESIA - BUSINESS STANDARD
Business-Standard reported that, Karnataka Power Corporation Ltd (KPCL), the state-owned power generator, is exploring the possibility of acquiring ...
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- Leighton Contractors Pty Ltd - Australia
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- Standard Chartered Bank - UAE
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- Ministry of Mines - Canada
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- Central Java Power - Indonesia
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
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- South Luzon Thermal Energy Corporation
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- Metalloyd Limited - United Kingdom
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- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
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- Maheswari Brothers Coal Limited - India
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- Global Coal Blending Company Limited - Australia
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- Kalimantan Lumbung Energi - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
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- Toyota Tsusho Corporation, Japan
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- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
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- Planning Commission, India
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- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
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- Bayan Resources Tbk. - Indonesia
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- Attock Cement Pakistan Limited
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- Coalindo Energy - Indonesia
- PTC India Limited - India
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- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
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- Binh Thuan Hamico - Vietnam
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- Siam City Cement PLC, Thailand
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- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
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- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
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- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
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- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
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- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Australian Coal Association
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