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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, 22 September 09
AUSTRALIA SEES HIGHER ASIAN THERMAL COAL IMPORTS
* Asia '09 imports to rise 3.5%, vs pvs f'cast of 3.3% fall
* Asia 2010 thermal coal imports expected to rise 6.3 pct
* China to become net im ...
Tuesday, 22 September 09
PANAMA CANAL EXPANSION MAY AID COLOMBIA COAL TO ASIA
* Colombia producers hope for growth in Asia shipments
* Panama Canal will allow smaller coal Capesize vessels
* Australia, Indonesia to remain bi ...
Monday, 21 September 09
ACCC SET TO APPROVE NEWCASTLE COAL SHIPPING AGREEMENT
ABC reported that, The competition regulator says it is likely to approve a new agreement over coal loading arrangements at Newcastle.
Australian ...
Friday, 18 September 09
PEABODY ENERGY ESTABLISHES ASIAN COAL TRADING HUB IN SINGAPORE
Peabody Energy announced it has opened an office in Singapore that will serve as the new hub for Peabody COALTRADE International activities in South ...
Friday, 18 September 09
AUSTRALIA NEWCASTLE COAL PORT: SEEKS INTERIM QUOTA SYSTEM
Reuters reported that, Australia's Newcastle coal terminal wants to re-introduce an interim export quota system after a group of miners led by BHP ...
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- Therma Luzon, Inc, Philippines
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- Larsen & Toubro Limited - India
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- Iligan Light & Power Inc, Philippines
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- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
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- Eastern Coal Council - USA
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- Gujarat Sidhee Cement - India
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- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
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- Anglo American - United Kingdom
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- Merrill Lynch Commodities Europe
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- Romanian Commodities Exchange
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- Sojitz Corporation - Japan
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- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
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- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
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- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
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- Bulk Trading Sa - Switzerland
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- GMR Energy Limited - India
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- Orica Australia Pty. Ltd.
- White Energy Company Limited
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- Latin American Coal - Colombia
- Indian Oil Corporation Limited
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- Cement Manufacturers Association - India
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- Baramulti Group, Indonesia
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
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- Kobexindo Tractors - Indoneisa
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- McConnell Dowell - Australia
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- Karaikal Port Pvt Ltd - India
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- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
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- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
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- London Commodity Brokers - England
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- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
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- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
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- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
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- Lanco Infratech Ltd - India
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- Electricity Generating Authority of Thailand
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