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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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Wednesday, 25 March 09
MINISTER ASKS ROYALTIES BE PAID IN COAL, NOT CURRENCY - THE JAKARTA POST
Coal companies could pay their royalties to the government in coal, rather than in rupiah, under a proposal made by Energy and Mineral Resources Min ...
Wednesday, 25 March 09
INDONESIA'S STATE ELECTRICITY COMPANY DEMAND FOR COAL TO SOAR NEXT YEAR AS POWER OUTPUT RISES - THE JAKARTA POST
State electricity company PT PLN will need more coal next year as it seeks to generate more power through new plants operated by its subsidiary PT I ...
Tuesday, 24 March 09
INDONESIA'S KPC AGREES FIRST MAJOR CHINA COAL DEAL - REUTERS
Indonesian miner PT Kaltim Prima Coal last week agreed its first major long-term deal to sell thermal coal to China, with 1 million tonnes to be shi ...
Tuesday, 24 March 09
INDONESIA ANTAM'S SETS ASIDE $37 MLN FOR COAL MINES - REUTERS
Indonesian state-owned miner, PT Aneka Tambang Tbk, has allocated $37 million for acquiring coal mines, the company said on Monday.
Antam said la ...
Monday, 23 March 09
NIPPON STEEL, BMA AGREE TO 57 PCT CUT IN COAL PRICE - REUTERS
Nippon Steel Corp has agreed with Australia's BHP Billiton Mitsubishi Alliance (BMA) to pay $128 to $129 per tonne for coking coal in the year from ...
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- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
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