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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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Wednesday, 31 March 10
DRY BULK MARKET STILL MODERATELY FALLING, BUT POSITIVE SIGNS APPEAR ON THE HORIZON - HELLENIC SHIPPING
The irregularities of the current dry bulk market have been more than evident in the fact that panamax vessels today earn more than their larger cap ...
Wednesday, 31 March 10
INDIKA ENERGYS PROFIT HIT BY FOREX LOSS AND CABOTAGE - THE JAKARTA GLOBE
The Jakarta Globe reportd that, PT Indika Energy posted a 30 percent drop in 2009 net profit due to a foreign exchange loss and impairment of intang ...
Wednesday, 31 March 10
ITMG TO UP COAL OUTPUT DESPITE PERMIT PROBLEMS - THE JAKARTA POST
The Jakarta Post reported that, the country’s third largest coal producer PT Indo Tambang Raya Megah (ITMG) said it can raise output although ...
Tuesday, 30 March 10
ANALYST SEES BDI LIFT, SUGGESTS DRY BULK SHORT SQUEEZE
Analysts at Credit Suisse are bullish on Diana and see a potential short squeeze elsewhere in the sector. The Baltic Dry Index (BDI) -- an industry ...
Tuesday, 30 March 10
CHINA'S DROUGHT RAISES COAL PRICES, LOWERS HYDROPOWER
Bloomberg reported that, Benchmark coal prices at Qinhuangdao, China’s largest port handling the fuel, rose for the first time in 10 weeks aft ...
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- MS Steel International - UAE
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Minerals Council of Australia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Australian Coal Association
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
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