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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
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