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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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Friday, 22 May 09
CHURCHILL DOUBLES INDONESIAN COAL PROJECT RESOURCE ESTIMATE - STEEL GURU
Mining Weekly quoted Churchill Mining as saying that the resource at its East Kutai coal project in Indonesia has more than doubled to 3.18 billion ...
Friday, 22 May 09
INDONESIA`S BUKIT ASAM TO HAVE POWER PLANT IN 2011 - ANTARA
The construction of a power plant in South Sumatra by coal mining company PT Tambang Batubara Bukit Asam will be completed in April 2011.
T ...
Friday, 22 May 09
NOBLE WINS CONTROL OF AUSTRALIA'S GLOUCESTER COAL - BLOOMBERG
Noble Group Ltd., a Hong Kong- based commodity supplier, won control of Australia’s Gloucester Coal Ltd. after last week raising its cash bid ...
Thursday, 21 May 09
FBR STARTS COVERAGE OF SHIPPING SECTOR - REUTERS
Friedman Billings Ramsey began coverage of the shipping industry, saying the sector, which is amidst a deep cyclical downturn, is poised for a recov ...
Thursday, 21 May 09
INDONESIAN COAL PRODUCTION IN Q1 BELOW TARGET - STEEL GURU
Mr Bambang Gatot Ariyono director for coal and mineral development at the Energy and Mineral Resources Ministry said that the coal production in the ...
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- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
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