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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- MS Steel International - UAE
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
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