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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, 06 April 09
RICHARDS BAY COAL TERMINAL EXPORTS ROSE 5 PERCENT IN MARCH - BLOOMBERG
South Africa’s Richards Bay Coal Terminal, the world’s largest coal-export facility, shipped 5 percent more coal in March than the same ...
Monday, 06 April 09
INDIA'S OSWAL CHEM EYES INDONESIAN COAL MINES -ECONOMICTIMES
Oswal Chemicals and Fertilisers (OCFL), part of Abhay Oswal-led Oswal group, has initiated talks with three separate Indonesian coal firms to ...
Thursday, 02 April 09
FOREIGNERS ALSO CHEER FOR INDONESIA'S THE NEW MINING LAW - MAJALA TAMBANG
Three mining giants, Australia's Rio Tinto along with Canada's Barrick Gold and Southern Arc, are among foreign corporations currently applying fo ...
Wednesday, 01 April 09
INDONESIAN GOVERNMENT REVISES MINING REVENUE TARGET DOWN 26% - THE JAKARTA POST
Government income from mining this year, excluding taxes, is expected to drop by about 26 percent to Rp 11 trillion ($957 million), primarily becaus ...
Wednesday, 01 April 09
INDONESIAN OFFICIAL CLAIMS NEW LEGISLATION IS VINDICATED AS OVERSEAS FIRMS LINE UP FOR MINING LICENSES - THE JAKARTA GLOBE
The Energy and Mineral Resources Ministry is expected to issue six mining licenses under the country’s new mining law over the next two months ...
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- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Parliament of New Zealand
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