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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, 06 August 09
CASES FILED AGAINST ESSAR ALGOMA OVER TERMINATED COAL SHIPMENTS
Steel Guru reported that, It is reported that units of International Coal Group Inc and Arch Coal Inc have filed federal lawsuits in the same court ...
Thursday, 06 August 09
COMPULSORY MINE RECLAMATION PROPOSED FOR A MINING'S LIFETIME
Tambang reported that, A data from the Forestry Ministry showed that almost 65 percent of mining activities operated under contract of work, c ...
Thursday, 06 August 09
MINING PERMITS FOR THOSE COMMITTED TO SMELTER DEVELOPMENT ONLY
Tambang reported tht, Concrete and tangible endeavors are key to guarantee the attainment of added value from mining sector. The Indonesian Ministry ...
Thursday, 06 August 09
PRESS RELEASE - CZECH COAL CONTESTS THE J&T AND IPO MERGER
Prague, 3 August 2009 - The Czech Coal Group filed today objections to the proposed merger of the J&T Group and International Power Opatovice (I ...
Wednesday, 05 August 09
SMALLER DRY BULK CARRIERS TO FARE BETTER UNTIL THE END OF 2009 - SHIPPING
Marcor Shipping reported that, Smaller ship types are expected to outtake larger ones in dry bulk trade for the period until the end of the year. Th ...
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- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
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- Sarangani Energy Corporation, Philippines
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- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
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- Planning Commission, India
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- Thai Mozambique Logistica
- McConnell Dowell - Australia
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- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
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- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
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- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
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- Meralco Power Generation, Philippines
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- Eastern Energy - Thailand
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- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
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- Meenaskhi Energy Private Limited - India
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- Indonesian Coal Mining Association
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- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
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- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
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- Economic Council, Georgia
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- White Energy Company Limited
- Indogreen Group - Indonesia
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- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
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- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
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- IHS Mccloskey Coal Group - USA
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- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- The University of Queensland
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- Leighton Contractors Pty Ltd - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
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- GVK Power & Infra Limited - India
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- Tamil Nadu electricity Board
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- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
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- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
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- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
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- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
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- Madhucon Powers Ltd - India
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- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
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- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
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- London Commodity Brokers - England
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- Dalmia Cement Bharat India
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- GMR Energy Limited - India
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- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
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- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
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- Ministry of Mines - Canada
- SMG Consultants - Indonesia
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