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