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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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Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
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