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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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Thursday, 13 August 09
RIO PREPARES COAL IPO AFTER FAILING TO FIND BUYER
Bloomberg reported that, Rio Tinto Group, the world’s third- largest mining company, is preparing an initial public offering for its U.S. ...
Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than ...
Thursday, 13 August 09
CHINA COAL-PRICES UNCHANGED, BUT LIKELY TO MOVE HIGHER
Alibaba reported that, Spot coal prices in China's top coal port Qinhuangdao were unchanged from a week earlier, but are still looking bullish in t ...
Thursday, 13 August 09
INDONESIA'S BERAU COAL SEES 2010 OUTPUT UP 16 PCT
Reuters reported that, Indonesia's fifth-largest coal miner, PT Berau Coal, expects 2010 production to be nearly 16 percent higher than this year, ...
Thursday, 13 August 09
JAYPEE GROUP. L&T INK RS 4,000-CRORE (US$ 824,818,084) DEAL
Second order bagged by L&T in the supercritical segment.
Jaiprakash Power Ventures Ltd (JPVL), promoted by the $7-billion Jaypee group, has s ...
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- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
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- Mjunction Services Limited - India
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- Thai Mozambique Logistica
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
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- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
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- Deloitte Consulting - India
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- Georgia Ports Authority, United States
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- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
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- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
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- Australian Coal Association
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
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- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
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- Economic Council, Georgia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- The University of Queensland
- CNBM International Corporation - China
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
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- White Energy Company Limited
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
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- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
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- Vedanta Resources Plc - India
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- Planning Commission, India
- SMC Global Power, Philippines
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