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Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
 The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The company, Asean's largest coal miner, blamed the worse-than-expected results on a drop in coal prices, higher fuel costs and the baht's appreciation over the past year.
CEO Chanin Vongkusolkit said the decline in net profit for the quarter ending in March reflected a lower-than-expected average selling price of US$66.27 per tonne, down by 21% from $84.20 a year earlier.
The fall in price was triggered by a poorer market environment in mid-2009, when the company's coal contracts for this quarter were priced.
In line with coal's price volatility, Mr Chanin said Banpu would maintain its yearly sales target at 57 million baht, as in 2009, even though its coal production is targeted to rise to 23 million tonnes from 21 million tonnes last year.
"We target an average selling price of between $65 and $70 per tonne," said Mr Chanin.
But net profit from the power business rose by 11% year-on-year to 1.26 billion baht in the first quarter, thanks to a significant improvement in the company's power operations led by the BLCP Power plant, which resumed operation after an annual shutdown for maintenance late last year.
Despite lower profit, Banpu's total sales rose by 12% year-on-year to 15.2 billion baht, with coal operations providing 89% and the power business 11%.Coal sales were driven by an expansion in Indonesian coal mines in 2009. The company operates five coal mines in Indonesia and has equity in coal and combined-heat power plants in China.
Banpu's Chinese coal business performed well, with sales up 100% from the previous quarter to 1 billion baht, but down 8% year-on-year, he added.
The company recently acquired 14.9% of Sydney-based Centennial Coal Co, a mining company in Australia valued by analysts at about 8.3 billion baht.
Mr Chanin described the investment as a strategic move that takes into account a new tariff for coal mining introduced by Australia's government on environmental grounds.
"Australia is still the major coal exporting country with an advanced, transparent regulatory framework. The investment in Australia fits in well with Banpu's portfolio on top of our coal operations in Indonesia and China," he said.
Despite its lower net income, analysts expect Banpu's second-quarter earnings to improve from the first quarter as stronger demand raises coal sales.
BLCP's contribution should also gain from higher power demand in line with record demand this year. The investment in Centennial should contribute dividend income to Banpu of about 170-200 million baht a year, or about 1.2% to 1.4% of net profit in 2010.
Shares of Banpu closed yesterday on the SET at 626 baht, down by 12 baht, in trade worth 1.4 billion baht.
Source: Bangkokpost (By:Yuthana Praiwan )
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Saturday, 22 May 10
INDUSTRY QUESTIONS STEAM COAL PRICE ANOMALY
Five South Korean utilities have secured a deal for 3.13 million tonnes of Australian thermal coal with a calorific value of 6,080kcal/kg for delive ...
Wednesday, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
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- Heidelberg Cement - Germany
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- Commonwealth Bank - Australia
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- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
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- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
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- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
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- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
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- The University of Queensland
- Posco Energy - South Korea
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- MS Steel International - UAE
- Sojitz Corporation - Japan
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- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
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- Wilmar Investment Holdings
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- Binh Thuan Hamico - Vietnam
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- Ministry of Finance - Indonesia
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- Power Finance Corporation Ltd., India
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- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
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- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
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- South Luzon Thermal Energy Corporation
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- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
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- Goldman Sachs - Singapore
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- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
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- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
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- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Economic Council, Georgia
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- Gujarat Sidhee Cement - India
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- IHS Mccloskey Coal Group - USA
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- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
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- Chamber of Mines of South Africa
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- Singapore Mercantile Exchange
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- Deloitte Consulting - India
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- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
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- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
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