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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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Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
Monday, 17 May 10
S. AFRICA CUTS EUROPE COAL SUPPLY, ASIA SALES RISE, TRADER SAYS - BLOOMBERG
Bloomberg reported that, South Africa’s Richards Bay Coal Terminal, Europe’s biggest source of the fuel burned for power, cut shipments ...
Monday, 17 May 10
GREEK CRISIS TO SEE FREIGHT RATES FALL BANGKOK POST
The Greek debt crisis will likely cause shipping rates to fall this quarter enabling SET-listed Precious Shipping Plc to buy second-hand vessels at ...
Monday, 17 May 10
NEWCASTLE COAL QUEUES COULD BE HISTORY - THE HERALD
NEWCASTLE'S infamous coal queues could be a thing of the past if a plan to have the ships anchor over the horizon succeeds against the doubts of it ...
Sunday, 16 May 10
THREE FIRMS SHORTLISTED FOR CIL'S $ 2BN OVERSEAS PROJECTS - ECONOMIC TIMES
Economic Times reported that, State-owned Coal India Ltd (CIL) has shortlisted US firms Massey Energy and Peabody Energy, besides Indonesian Novem/S ...
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- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
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- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
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- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
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- Central Electricity Authority - India
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- Sindya Power Generating Company Private Ltd
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- Romanian Commodities Exchange
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- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
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- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
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- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
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- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
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- Medco Energi Mining Internasional
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
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- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
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- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
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- Eastern Energy - Thailand
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- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
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- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- White Energy Company Limited
- Parliament of New Zealand
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
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