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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
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- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Planning Commission, India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
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