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Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST


Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China as the sharp rise in coal prices and strong demand will benefit the company's financial results this year.

Chief financial officer Somrudee Chaimongkol said Banpu's average selling price for coal was projected to top US$80 per tonne in 2011 compared to $73 last year.

Coal at Australia's Newcastle port, an Asian benchmark, surged to a two-year high of $126.10 at the end of 2010 after rains and severe floods disrupted supplies in the country, which is the world's largest exporter of the fuel.

"The price of coal to be shipped in the first quarter was already fixed last year. The market's higher coal prices, however, will help increase Banpu's average selling price to more than $80 per tonne in 2011," she said.

Banpu on Tuesday informed the Stock Exchange of Thailand that its coal mine in Daning had suspended operations since Dec 31 pending a licence renewal.

The mine, operated by Shanxi Asian-American Daning Energy (SAADEC), is Banpu's largest mine in China with planned production of 4 million tonnes this year. Its Chinese wholly owned subsidiary Asian-American Coal (AACI) owns a 56% stake of SAADEC, contributing equity income of 2.16 billion baht to Banpu in the first nine months of 2010.

Ms Somrudee said the company was reviewing the Daning stoppage, but output from the mine was small compared to total figures.

The miner projects to almost double its coal output to 43 million tonnes this year from 22.5 million tonnes in 2010. Sydney-based Centennial Coal, which Banpu acquired last year, will contribute 14.5 million tonnes while Indonesian coal mines produce 26 million tonnes. To read more Bangkok Post



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Recent News

Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...


Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...


Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...


Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...


Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release -  Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing  the international gathering ...


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