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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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Wednesday, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
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- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
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