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Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
 I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the global economic rebound and a price gap that could encourage industrial operators to switch from fuel oil to coal for energy, said assistant managing director Somyos Thitisuriyarux.
But the SET-listed coal importer and distributor said yesterday that in the worst case its turnover could slip by 10 percent this year from 2.35 billion baht in 2008, with net profit sliding in line with coal prices down from 123 million baht last year.
In the first six months of 2009, AGE's revenue increased 15 percent year-on-year to one billion baht as coal from Indonesian mines rose 14.6 percent by volume to 414,072 tonnes. But net profit sank from 68 million baht to 39 million as the margin shrank 8 percent year-on-year.
Coal prices have stabilised between US$60 and $70 per tonne since the past quarter, or 2,600 baht as quoted locally, while crude has risen steadily to $70, said Mr Somyos. With fuel oil now at 13-14 baht a litre, it is 40 percent more expensive than coal, he said.
"Last year, 7 percent of 30,000 boilers at industrial plants nationwide were modified from fuel oil to coal to save about 30 percent. As the gap has widened, we expect more and more industrialists to switch to coal this year," he said.
AGE's customers are up to 520 from 500 at the end of last year, with the energy sector climbing to contribute 24 percent of sales volume, while food provides 29 percent, textiles 23 percent and paper 14 percent.
"We have remained on track to boost sales from 840,000 tonnes in 2008 to 1 million tonnes this year. Many sectors, including energy, have placed more orders but several were made for restocking," said Mr Somyos.
Although the global economic picture in the second half is unclear, without unexpected incidents the economy could steadily improve both locally and globally.
But AGE's sales revenue for 2009 will not be as good as projected earlier, when 20 percent growth was considered possible, he said. Coal prices are expected to stay between 2,500 and 2,800 baht this year, compared with 2,800 to 3,200 baht last year, due to the sluggish world economy in the first half.
"After getting the financial results of the first half, we are now anticipating that revenue could vary by 10 percent plus or minus from the 2008 figure," said Mr Somyos.
Next month, AGE will start operating its fourth warehouse in Si Racha in Chon Buri, with storage capacity of 10,000 tonnes of coal. The new facility will contribute to revenue from the fourth quarter onward. Currently, 14 percent of its customers are in the eastern region, he said.
Shares of AGE closed yesterday at 6.30 baht, unchanged, in trade worth 1.72 million baht.
Source:I Stock Analyst
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Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
Wednesday, 19 August 09
MMTC SCRAPS CONTROVERSIAL COAL TENDER
Most of NTPC’s coal-based projects don’t have sufficient stock of coal
State-owned trading firm MMTC Ltd has scrapped its controversi ...
Wednesday, 19 August 09
THE 3RD ASIA PACIFIC COAL TRADING & INVESTMENT OUTLOOK 2009 WILL BE HELD IN CHINA IN SEPTEMBER 2009
COALspot.com (China): Due to the inversion of domestic and overseas coal price in China, China coal import increased dramatically and continuously. ...
Wednesday, 19 August 09
COAL INDIA PLANS SUBSIDIARY IN MOZAMBIQUE
Business Standard reported that, Coal India Ltd (CIL), which was awarded two exploratory coal blocks in Mozambique in March this year, has decided t ...
Tuesday, 18 August 09
INDIA PLANS 'SIMPLER' MINING LAW TO BOOST INVESTMENT
Bloomberg reported that, India aims to cut permit delays and attract overseas capital through “simpler” resource investment laws to help ...
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- Coastal Gujarat Power Limited - India
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- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
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- Kepco SPC Power Corporation, Philippines
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- Thai Mozambique Logistica
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- The State Trading Corporation of India Ltd
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- Indonesian Coal Mining Association
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- Bahari Cakrawala Sebuku - Indonesia
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- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
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- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
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- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Economic Council, Georgia
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- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
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- SMC Global Power, Philippines
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- Billiton Holdings Pty Ltd - Australia
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- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
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- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Indian Oil Corporation Limited
- Indian Energy Exchange, India
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- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
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- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Parliament of New Zealand
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- Bayan Resources Tbk. - Indonesia
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- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
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- Minerals Council of Australia
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- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
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- Power Finance Corporation Ltd., India
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- The University of Queensland
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- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- White Energy Company Limited
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
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