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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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- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
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