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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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- New Zealand Coal & Carbon
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- Eastern Energy - Thailand
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- GAC Shipping (India) Pvt Ltd
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- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
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- Ministry of Transport, Egypt
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- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
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- AsiaOL BioFuels Corp., Philippines
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- Singapore Mercantile Exchange
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- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
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- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
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- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
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- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
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- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
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- Energy Development Corp, Philippines
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- Goldman Sachs - Singapore
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- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
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- Bayan Resources Tbk. - Indonesia
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- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
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- Heidelberg Cement - Germany
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- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
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- The University of Queensland
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- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
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- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
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- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
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- Chettinad Cement Corporation Ltd - India
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- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
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- Bharathi Cement Corporation - India
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- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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