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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, 15 July 09
INDONESIAN FIRM SUBMITS LOWEST BID FOR NAPOCOR COAL
ABS-CBN News reported that, An Indonesian firm offered to supply 195,000 tons of thermal coal to top Philippine electricity producer National Power ...
Wednesday, 15 July 09
INDIAN COAL MINISTRY TO CONSIDER POWER PLANT ALTERATION PROPOSALS
PTI reported that the coal ministry has agreed to consider applications of power plants seeking long term coal linkage due to enhancement in electri ...
Wednesday, 15 July 09
SHENHUA STARTS WORK ON INDONESIA POWER PLANT
Bloomberg reported that China Shenhua Guohau Power a unit of China’s biggest coal producer started construction of a power plant and mine in I ...
Wednesday, 15 July 09
PLN OPENS TENDERS FOR SUPPLY OF LOW - GRADE COAL
The Jakarta Globe, a Indonesian new paper reported that, State power utility PT PLN has opened a tender for the supply of low-grade coal for the nat ...
Tuesday, 14 July 09
MMTC SAYS MAY RE-TENDER FOR 12.5 MLN T COAL
* KIS has demanded investigation into procurement
* MMTC says import delays could add to power shortages
Alibaba reported that, India's s ...
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