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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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Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitratio ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Parliament of New Zealand
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
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