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Thursday, 04 February 10
PTT EYES OVERSEAS COAL
 Revenue could reachUS$600 million a year
PTT Plc, Thailand's largest energy company, aims to raise the annual revenue from its overseas coal business to US$500-600 million by 2014.
Prospects for local business growth have dimmed due to environmental concerns, said Chitrapongse Kwangsukstith, acting president of PTT International.
The group has explored business opportunities in Madagascar and Brunei in addition to existing coal operations in Indonesia, he said.
The company has secured syndicated loans worth $380 million with Siam Commercial Bank, Krung Thai Bank, Bangkok Bank and Standard Chartered Bank to expand coal production in Indonesia.
Part of the loan will be used to refinance current debt to extend maturities to more than 10 years and reduce interest costs, he said.
"We are going to expand production in Indonesia to 11-12 million tonnes this year, up from last year's 9 million, and ramp up to 20 million tonnes in the next five years," he said.
Indonesian coal will be exported to Japan, Hong Kong and China, he said.
| "We are going to expand production in Indonesia to 11-12 million tons this year and ramp up to 20 million tons in the next five years" - Chitrapongse Kwangsukstith |
Investment in Indonesia will be made through Straits Asia Resources (SAR), of which the Singapore-listed parent is majority-owned by PTT Asia Pacific (PTTAPM). More than 60% controlled by PTT, PTTAPM has been granted a licence and is in the early exploration process for coal mines in Brunei and Madagascar.
"Currently, coal ventures generate a few million dollars of revenue a year. We are targeting net revenue for PTT of about $500-600 million annually, making coal one of PTT's core businesses, probably in the next five years," Mr Chitrapongse said.
"It is a shame that we cannot expand in Thailand because of the unresolved [Map Ta Phut legal] issue, so we are going to seek more business opportunities abroad."
PTT has 18 projects worth 93.5 billion baht, including its 28-billion-baht sixth gas-separation plant, among 64 projects in Map Ta Phut ordered by a court to suspend operations.
Analysts say that the coal business can generate better income for PTT than oil, given higher world reserves and rising demand. Globally, coal trade volume is expected to grow 3.2% this year, compared with a 1.2% increase in 2009, according to UOB Kay Hian.
Prices of thermal coal have also soared from an average of $72 per tonne last year to $99 at present, due to cold weather, it said.
The brokerage estimated that PTT's net profit in the final quarter of 2009 would be lower than in the third quarter, due mainly to lower earnings of PTT Exploration and Production. Refinery subsidiaries, such as Thai Oil Plc and PTT Aromatics and Refining Plc, are also expected to report weaker results from lower margins.
Shares of PTT closed yesterday on the SET at 225 baht, up six baht, in trade worth 1.29 billion baht.
Source: Bangkok Post
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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
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- Deloitte Consulting - India
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- The State Trading Corporation of India Ltd
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- CNBM International Corporation - China
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- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
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- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
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- Cigading International Bulk Terminal - Indonesia
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- GAC Shipping (India) Pvt Ltd
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- Merrill Lynch Commodities Europe
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- Sarangani Energy Corporation, Philippines
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- Power Finance Corporation Ltd., India
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- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- MS Steel International - UAE
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- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
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- Siam City Cement PLC, Thailand
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- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Planning Commission, India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
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- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
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- AsiaOL BioFuels Corp., Philippines
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- Rashtriya Ispat Nigam Limited - India
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- Romanian Commodities Exchange
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- Thiess Contractors Indonesia
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- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
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- ASAPP Information Group - India
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- Wilmar Investment Holdings
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- Parliament of New Zealand
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
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- Bahari Cakrawala Sebuku - Indonesia
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- SMC Global Power, Philippines
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- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
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- Directorate General of MIneral and Coal - Indonesia
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- London Commodity Brokers - England
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