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Friday, 26 February 10
BANPU PROFITS SURGE BY 54% TO RECORD B14BN ON BRISK SALES
 Banpu Plc, Asean's largest coal miner, said its earnings surged to a record high of 14.23 billion baht last year, an increase of 54% on the previous year.
Higher-than-expected coal sales and solid results in the power sector helped create the record profits, said chief executive Chanin Vongkusolkit.
Coal sales totalled 21.09 million tonnes last year, up 14% and beating the company's forecast of 20.5 million, he said.
Banpu's average selling price was $71.70 per tonne, on par with the $72 quoted the previous year. Even though the average benchmark coal price dropped by 44% during the year, the company started fixing prices for coal contracts from mid-2008 when the market price was strong, he said.
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“ The new Indominco East Block also began production, resulting in 14% higher output to 12.16 million tonnes at Banpu's biggest mine. As well, the Kitadin-Embalut mine resumed operations after being shut down for a few years, contributing 610,000 tonnes”
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"Lower rainfall allowed better Indonesian coal output," said Mr Chanin. "China coal operations reported solid performance and favourable coal prices as a reflection of sustained domestic consumption."
All of the company's mines in Kalimantan, in Indonesia, operated with higher efficiency. Trubaindo and Jurong ran at full capacities of 5.13 million and 2.96 million tonnes, respectively.
The new Indominco East Block also began production, resulting in 14% higher output to 12.16 million tonnes at Banpu's biggest mine. As well, the Kitadin-Embalut mine resumed operations after being shut down for a few years, contributing 610,000 tonnes.
Coal revenue rose 15% to 52.7 billion baht, or 91% of Banpu's total sales of 57.86 billion, which also rose by 15% year-on-year, he said.
"The coal business performed in line with our projection in the final quarter of last year with shipments of 7.2 million tonnes, up 35% from the previous quarter. This helped offset the 7% quarter-on-quarter decrease in coal prices to $64.7 a tonne," Mr Chanin said.
The power business also reported sound results with sales of power and steam rising 13% to 5.16 billion baht. Thanks to lower coal costs and higher prices of electricity and steam in China, net profit at Banpu's three plants on the mainland rose to 591 million baht in 2009 from 160 million the year before.
BLCP, in which Banpu holds an equal share with Electricity Generating Plc (Egco), continued to run at high capacity and contributed 3.4 billion baht in equity income, a rise of 8% from 2008.
Earnings per share rose 54% to 52.36 baht from 33.96 baht in 2008.
Banpu also booked a "significant gain" of 2.87 billion baht from a coal swap, compared to a loss of 218 million loss the year before, said Mr Chanin.
BANPU shares closed yesterday on the SET at 536 baht, up 4 baht, in trade worth 770 million baht.
Source: Bangkok Post - Nareerat Wiriyapong
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Wednesday, 17 February 10
JORONG COULD COST BANPU 5%
Banpu Plc, Asean's biggest coal miner, forecasts a 5% drop in revenue if its suspended coal mine in Indonesia is closed for one year, says presiden ...
Wednesday, 17 February 10
RUSSIA KRU JAN COAL EXPORTS DOWN 4 PCT
Kuzbassrazrezugol, Russia's second largest steam coal producer, exported 1.859 million tonnes of coal last month, down 80,000 tonnes or 4 percent f ...
Wednesday, 17 February 10
VEDANTA SET FOR PORTS ENTRY WITH VIZAG TENDER
Vedanta, along with Leighton Contractors India, quoted a revenue share of 38.1% to win the 30-year contract
Mining and metals conglomerate Vedant ...
Tuesday, 16 February 10
TRENDS DRY BULK MARKET ... TRENDS - BRS
The start of the Chinese New Year had an immediate impact on rates and for once all the dry bulk segments lost similar ground.
The BDI fell 5%, a ...
Tuesday, 16 February 10
LAW POSES THREAT TO INDONESIA'S COAL INDUSTRY
A zoning law could cost coal miners billions of dollars this year alone, hurt investment in the industry and disrupt the supply of the fuel to the c ...
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- London Commodity Brokers - England
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- Tata Chemicals Ltd - India
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- Coal and Oil Company - UAE
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- The State Trading Corporation of India Ltd
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- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
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- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
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- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
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- Intertek Mineral Services - Indonesia
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- White Energy Company Limited
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- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
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- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
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- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
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- Straits Asia Resources Limited - Singapore
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
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- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
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- Wilmar Investment Holdings
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- Cement Manufacturers Association - India
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- Chamber of Mines of South Africa
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- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
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