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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Heidelberg Cement - Germany
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