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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, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
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- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- The University of Queensland
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Ministry of Mines - Canada
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