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