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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, 23 March 09
STRAITS TO SELL STAKE IN COAL ASSETS TO PTT -THEAUSTRALIAN.NEWS.COM
STRAITS Resources will sell a 60 per cent stake in its Indonesian coal assets to Thailand's PTT International Co. for $US335 million.
The transa ...
Monday, 23 March 09
BMA TAKES 60 PCT CUT IN JAPAN COKING COAL PRICE-CITI - REUTERS
BHP Billiton Mitsubishi Alliance (BMA), the world's top coking coal exporter, has agreed to accept a discount of around 60 percent for the steel-ma ...
Sunday, 22 March 09
SHENHUA ENERGY'S 2009 COAL PRODUCTION MAY GAIN 8% - BLOOMBERG
China Shenhua Energy Co., the nation’s biggest coal producer, may increase production of the energy fuel by about 8 percent this year, slower ...
Friday, 20 March 09
INDONESIA ORDERS TEMPORARY HALT AT BAYAN COAL MINE - REUTERS
Indonesia has ordered a coal mining unit of PT Bayan Resources to temporarily stop production for operating outside approved areas, a government off ...
Friday, 20 March 09
COKING-COAL PRICE STRUCK AT $115-$125, CITIGROUP SAYS - BLOOMBERG
BHP Billiton Ltd., the world’s largest miner, agreed with Nippon Steel Corp. to benchmark coking coal prices of $115 to $125 a metric ton, Cit ...
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- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Minerals Council of Australia
- Economic Council, Georgia
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
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