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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, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
Tuesday, 16 June 09
INDIAN MINING WORKER ARRESTED IN BENGKULU
Forestry officials in Bengkulu Province, Sumatra, arrested one Indian national and two Indonesians on Sunday for unauthorized exploration in the ele ...
Tuesday, 16 June 09
INDIAN GOVERNMENT MAY ALLOW PRIVATE COMPANIES TO MINE COAL
The government is “strongly considering” to allow commercial coal mining by private companies in a bid to bridge the demand-supply gap, ...
Monday, 15 June 09
SAFRICA'S COAL TERMINAL EXPANSION DELAYED TO Q4
South Africa's Richards Bay Coal Terminal (RBCT) said on Monday the completion of a project to expand the export facility had been delayed to the f ...
Monday, 15 June 09
SHENHUA DENIES GIVING GROUND ON EXPORT COAL PRICE - REUTERS
China Shenhua Energy Co, the country's top coal producer, expects Japanese and South Korean clients to pay at least as much as Chinese customers fo ...
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- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
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- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
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- Antam Resourcindo - Indonesia
- Minerals Council of Australia
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- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
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- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
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