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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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- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
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