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Wednesday, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
 Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with its takeover of Sydney-based Centennial Coal Co, which Banpu shareholders approved yesterday.
Chief executive Chanin Vongkusolkit said the company expected to complete its tender offer for the remaining 80.1% of Centennial by the end of September or early October at the cost of A$2.017 billion or 55.29 billion baht.
Banpu earlier acquired 19.9% of Centennial for A$380 million. On July 5, Banpu announced it would buy all of the ordinarily shares of the Australian company that it does not already control at the price of A$6.2 per share.
Mr Chanin said yesterday that the takeover would be completed after Australia's general election on Aug 21, adding that he expected the new Australian government would welcome the deal.
The company expected to book revenue contributions from Centennial in the fourth quarter of this year, he added.
Centennial, with 10 mines, has marketable coal reserves of 386 million tonnes as of June 30 this year. Banpu, which operates coal mines in Indonesia and China, has reserves of 318 million tonnes.
Shareholders yesterday also approved the management's plan to issue additional debentures worth up to 20 billion baht with maturities of up to 15 years.
Mr Chanin said Banpu would issue some debentures later this year in multiple tranches to either refinance debts or fund its acquisition of Centennial.
Banpu was confident that 2010 revenue would beat forecasts despite lower production at the Daning mine in Shanxi province due to a licence renewal delay.
The company on Monday revised down forecast production of the Chinese underground mine by 10%, resulting in expected lower net profit of $10 million. It has annual capacity of 4 million tonnes.
Mr Chanin also said the company's Jorong mine in Indonesia would resume operations in late September after being halted since February by the government because of forest encroachment. Authorities have been working with miners to clarify new operating rules.
"Indonesian coal mines are our major revenue contributor. The [total] coal sales target has been maintained at 23 million tonnes this year," he added.
CIMB-GK Securities (Thailand) has downgraded Banpu's 2010 net profit forecast by 1.4% to 14.6 billion baht following the revision of the Daning figures.
BANPU shares closed yesterday on the SET at 620 baht, down 10 baht, in trade worth 793.3 million baht.
Source: Bangkok Post
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Friday, 10 October 14
INDONESIA TO DEVELOP DOWNSTREAM COAL INDUSTRY - JP
The government is planning to launch a program to develop the downstream coal industry to increase the commodity’s added value, an official h ...
Friday, 10 October 14
U.S. PRODUCED 83.2 MMST OF COAL IN SEPTEMBER, SAYS EIA
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.6 million short tons (mmst) of coal in ...
Thursday, 09 October 14
CAPESIZE MARKET HAS CONTINUED TO SHOW WEAKNESS - FEARNLEYS
Handy
We mentioned last week that after several weeks of rate increase for the Supras, the bigger Panamaxes started to snap up better paying Supr ...
Thursday, 09 October 14
SHIPPING REMAINS CHALLENGED AS GLOBAL GROWTH DISAPPOINTS - BIMCO
The global shipping industry finds no grace from much stronger economic activity going forward, as the global recovery remains fragile and uneven. ...
Wednesday, 08 October 14
CAPES RATE FOR THE W. AUSTRALIA TO CHINA VOYAGE MOVED TO BELOW $8/MT - INTERMODAL
The Dry Bulk market remained under pressure last week, with rates for Capes remaining on the red while those for Panamaxes managed to outperform th ...
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- Baramulti Group, Indonesia
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- Global Green Power PLC Corporation, Philippines
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- The University of Queensland
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- IEA Clean Coal Centre - UK
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- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
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- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
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- Essar Steel Hazira Ltd - India
- Australian Coal Association
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- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
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- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
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- Anglo American - United Kingdom
- Central Electricity Authority - India
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- India Bulls Power Limited - India
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- Power Finance Corporation Ltd., India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
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- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
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- Eastern Coal Council - USA
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- Romanian Commodities Exchange
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- Directorate General of MIneral and Coal - Indonesia
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- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
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- Global Coal Blending Company Limited - Australia
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- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
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- Karbindo Abesyapradhi - Indoneisa
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- Grasim Industreis Ltd - India
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- Minerals Council of Australia
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- Independent Power Producers Association of India
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- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
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- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- VISA Power Limited - India
- Carbofer General Trading SA - India
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