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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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Tuesday, 05 May 09
INDONESIA'S ADARO PAYS $78.6 MLN FOR COAL-BARGING FIRM - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, said late on Monday it paid $78.6 million for a 74 percent stake in Orchard ...
Tuesday, 05 May 09
PHILIPPINES SEMIRARA STILL EXPECTS HIKE IN COAL SALES - BUSINESS MIRROR
DESPITE the anticipated soft demand resulting from the prevailing global financial crisis, the country’s largest coal producer Semirara Mining ...
Monday, 04 May 09
VISTAAR SINGAPORE SAYS, THIS MONTH DRY BULK FREIGHT LIKELY TO COME DOWN
COALspot.com (Singapore) - VISTAAR shipping Services Pte Limited of Singapore, said, the beginning of last week started with bit of weakness an ...
Monday, 04 May 09
PNOC-EC TO GROW COAL OPERATIONS - PHILIPPINE DAILY INQUIRER
LISTED firm Philippine National Oil Co.-Exploration Corp. plans to expand its operations this year to ensure the steady supply of coal and fur ...
Saturday, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
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- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
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