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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, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the b ...
Tuesday, 28 April 09
WORLD THERMAL COAL PRICE EXPECTED TO CRASH - PURCHASING.COM
Macquarie Bank sees 50% drop to $60/ton in 2009
Macquarie Bank today forecast the 2009 average market price for world thermal coal at $60/ton, a ...
Tuesday, 28 April 09
THAI LANNA TO OPEN NEW INDONESIAN MINE BY Q3 - REUTERS
Thailand's Lanna Resources PCL LANN.BK said on Monday it planned to open a new coal mine in Indonesia by the third quarter of 2009 with an initial ...
Tuesday, 28 April 09
SOUTH AFRICAN EXPORT COAL RETREATS ON WEAKER EUROPEAN DEMAND - BLOOMBERG
Prices for coal shipped from South Africa’s Richards Bay, site of the world’s largest export terminal for the fuel, fell for a second co ...
Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
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- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
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- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
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- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
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- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
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- Standard Chartered Bank - UAE
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- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
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- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
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- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
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- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
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- Global Business Power Corporation, Philippines
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- Electricity Generating Authority of Thailand
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- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Deloitte Consulting - India
- White Energy Company Limited
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
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- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Parliament of New Zealand
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- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
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- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
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- The State Trading Corporation of India Ltd
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- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
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- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Minerals Council of Australia
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