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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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Wednesday, 01 July 09
COAL INDIA SEEKS FASTER APPROVALS, IMPORTS, OVERSEAS MINERS
Coal India Ltd., the world’s biggest coal producer, wants mining approvals sped up to help it boost production to meet a widening supply short ...
Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
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- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Planning Commission, India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
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