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Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
 BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boosted sales.
Net income in the three months ended March 31 climbed to 4.8 billion baht ($139 million), or 17.65 baht a share, from 2.07 billion baht, or 7.63 baht a share, a year earlier, the company said today in a filing to the stock exchange. That exceeded the 3.38 billion-baht median profit estimate of 13 analysts surveyed by Bloomberg.
Bangkok-based Banpu, which has mines in China, Indonesia and Thailand, benefited from locking in contracts as prices surged to a record in July.
“Banpu is one of the few companies with solid earnings growth in 2009,” said Avin Sony, an analyst at ABN Amro Securities Co. in Bangkok. “Coal prices are also expected to be robust in the second quarter.”
Banpu’s shares gained as much as 2.3 percent to 318 baht and traded at 316 baht as of 10:14 a.m. local time, heading for its highest close since Sept. 26.
Sales rose 58 percent to 13.6 billion baht, according to Banpu’s statement. Coal shipments dropped 10 percent to 4.08 million metric tons in the quarter as the company closed a port in Indonesia for a week in February for maintenance, it said in separate statement.
Fuel Costs
The company’s average selling price of coal in the period surged 71 percent from a year earlier to $84.23 a ton as it signed forward contracts and increased the proportion of high- quality coal, it said.
Spot prices at Newcastle port in Australia, a benchmark for Asia, touched a record $194.79 a metric ton in July. The weekly price index gained 2.3 percent to $63.70 a ton last week, according to the globalCOAL NEWC index. Banpu gets almost all its coal from Indonesia, where it acquired its first mine in 1997.
The gross profit margin from its coal business widened to 55 percent in the first quarter from 37 percent in the same period last year on higher selling prices and lower fuel costs, the company said. The average diesel price was at 44 U.S. cents in the quarter, 52 percent lower than a year earlier, it said.
The profit increase was achieved by locking in contracts “when coal prices in the world were soaring,” Chief Executive Officer Chanin Vongkusolkit said in an e-mailed statement today. “The production cost at Indonesian coal mines also decreased due to lower diesel prices.”
Coal Swap
The company also booked a gain of 793.6 million baht from “the settlement of coal swap contracts” in the quarter, compared with a loss of 142 million baht from transactions in the same period last year, it said.
Coal sales in 2009 may rise 13 percent from the previous year to 20.5 million tons, Chanin said today, reiterating the forecast he made March 6. About 57 percent of the output this year was sold in advance at an average price of about $72 a ton, little changed from 2008, according to his statement in March.
The profit contribution from units in the first quarter climbed 34 percent to 2.06 billion baht, boosted by its coal business in China, the company said.
Banpu paid $420 million last June to buy the shares it didn’t already own in Asian American Coal Inc., which holds a 56 percent stake in China’s Shanxi Asian American-Daning Energy Co. Shanxi Asian has operated a mine in Shanxi province since 2006 under a 25-year concession. The mine has reserves of 88 million tons and produces 4 million tons a year, Banpu said at the time of the purchase.
Source: http://www.bloomberg.com/apps/news?pid=20601080&sid=aBESbuMUBPMY&refer=asia
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Monday, 27 July 09
ADANI POWER'S $625 MILLION IPO TO GENERATE HOT DEMAND
WSJ reported that, Adani Power, the electricity generating unit of India's Adani Enterprises Ltd., is set raise up to US$625 million in wha ...
Monday, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
Monday, 27 July 09
SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
COALspot.com (Singapore): The Supramax charter rates up sharply last week (ended 24th July 2009), especially India / Far East region said, Capt ...
Monday, 27 July 09
COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
Economictimes reported that, The second half of the financial year 2008-09 was one of the toughest periods for steel companies, especially the non-i ...
Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
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- TNB Fuel Sdn Bhd - Malaysia
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- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
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- Tata Chemicals Ltd - India
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- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
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- Mintek Dendrill Indonesia
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- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
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- Minerals Council of Australia
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- Aboitiz Power Corporation - Philippines
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- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
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- Alfred C Toepfer International GmbH - Germany
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- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Parliament of New Zealand
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- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
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- Bhatia International Limited - India
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- MS Steel International - UAE
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- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
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- Australian Coal Association
- Latin American Coal - Colombia
- Indian Energy Exchange, India
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- Indogreen Group - Indonesia
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- Altura Mining Limited, Indonesia
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- White Energy Company Limited
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- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
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- Standard Chartered Bank - UAE
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
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- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
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- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
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- Kumho Petrochemical, South Korea
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- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
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- Rashtriya Ispat Nigam Limited - India
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- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Singapore Mercantile Exchange
- London Commodity Brokers - England
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- Meenaskhi Energy Private Limited - India
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- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
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