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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
 BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boosted sales.
Net income in the three months ended March 31 climbed to 4.8 billion baht ($139 million), or 17.65 baht a share, from 2.07 billion baht, or 7.63 baht a share, a year earlier, the company said today in a filing to the stock exchange. That exceeded the 3.38 billion-baht median profit estimate of 13 analysts surveyed by Bloomberg.
Bangkok-based Banpu, which has mines in China, Indonesia and Thailand, benefited from locking in contracts as prices surged to a record in July.
“Banpu is one of the few companies with solid earnings growth in 2009,” said Avin Sony, an analyst at ABN Amro Securities Co. in Bangkok. “Coal prices are also expected to be robust in the second quarter.”
Banpu’s shares gained as much as 2.3 percent to 318 baht and traded at 316 baht as of 10:14 a.m. local time, heading for its highest close since Sept. 26.
Sales rose 58 percent to 13.6 billion baht, according to Banpu’s statement. Coal shipments dropped 10 percent to 4.08 million metric tons in the quarter as the company closed a port in Indonesia for a week in February for maintenance, it said in separate statement.
Fuel Costs
The company’s average selling price of coal in the period surged 71 percent from a year earlier to $84.23 a ton as it signed forward contracts and increased the proportion of high- quality coal, it said.
Spot prices at Newcastle port in Australia, a benchmark for Asia, touched a record $194.79 a metric ton in July. The weekly price index gained 2.3 percent to $63.70 a ton last week, according to the globalCOAL NEWC index. Banpu gets almost all its coal from Indonesia, where it acquired its first mine in 1997.
The gross profit margin from its coal business widened to 55 percent in the first quarter from 37 percent in the same period last year on higher selling prices and lower fuel costs, the company said. The average diesel price was at 44 U.S. cents in the quarter, 52 percent lower than a year earlier, it said.
The profit increase was achieved by locking in contracts “when coal prices in the world were soaring,” Chief Executive Officer Chanin Vongkusolkit said in an e-mailed statement today. “The production cost at Indonesian coal mines also decreased due to lower diesel prices.”
Coal Swap
The company also booked a gain of 793.6 million baht from “the settlement of coal swap contracts” in the quarter, compared with a loss of 142 million baht from transactions in the same period last year, it said.
Coal sales in 2009 may rise 13 percent from the previous year to 20.5 million tons, Chanin said today, reiterating the forecast he made March 6. About 57 percent of the output this year was sold in advance at an average price of about $72 a ton, little changed from 2008, according to his statement in March.
The profit contribution from units in the first quarter climbed 34 percent to 2.06 billion baht, boosted by its coal business in China, the company said.
Banpu paid $420 million last June to buy the shares it didn’t already own in Asian American Coal Inc., which holds a 56 percent stake in China’s Shanxi Asian American-Daning Energy Co. Shanxi Asian has operated a mine in Shanxi province since 2006 under a 25-year concession. The mine has reserves of 88 million tons and produces 4 million tons a year, Banpu said at the time of the purchase.
Source: http://www.bloomberg.com/apps/news?pid=20601080&sid=aBESbuMUBPMY&refer=asia
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Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Australian Coal Association
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
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