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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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Tuesday, 11 August 09
ZAMBIAN COAL BUYERS CONTINUE IMPORTING COAL FROM ZIMBABWE
Lusaka Times reported that, Coal mining companies have bemoaned the lack of market for their produce as prospective buyers continue importing the co ...
Monday, 10 August 09
NOMINAL HIKE IN COAL PRICES SOON - MEDIA
The hindu business reported that, a marginal hike in coal prices is in the offing. "I will be soon approaching the Prime Minister on the matter ...
Monday, 10 August 09
MANGALAM CEMENT PLACES ORDER FOR CAPTIVE POWER PLANT
Steel Guru reported that, Mangalam Cement Ltd has announced that the company on August 6th 2009 finalized order for Captive Thermal Power Plant of 1 ...
Monday, 10 August 09
VIET NAM COAL EXPORTS HIT 13.5 MILLION TONNES
VietNamNet Bridge reported that, Viet Nam exported more than 13.5 million tonnes of coal in the first seven months of this year, equal to the same p ...
Monday, 10 August 09
S.KOREA KOSPO ISSUES SPOT, TERM COAL TENDERS
Korea Southern Power Co Ltd (KOSPO) is seeking 1.5 million tonnes of steam coal per year for delivery from October 2009 through September 2012 via a ...
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- Rashtriya Ispat Nigam Limited - India
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- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Intertek Mineral Services - Indonesia
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- Economic Council, Georgia
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- Parliament of New Zealand
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- Sakthi Sugars Limited - India
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- McConnell Dowell - Australia
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- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
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- Siam City Cement - Thailand
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- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
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- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- PTC India Limited - India
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- Indonesian Coal Mining Association
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- Wood Mackenzie - Singapore
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- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
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- Sojitz Corporation - Japan
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- Binh Thuan Hamico - Vietnam
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- Jindal Steel & Power Ltd - India
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- Commonwealth Bank - Australia
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- CNBM International Corporation - China
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- Australian Commodity Traders Exchange
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- Energy Link Ltd, New Zealand
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- Chamber of Mines of South Africa
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- Bharathi Cement Corporation - India
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- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
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- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
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- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
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