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Monday, 20 July 09
BANPU'S SECOND-HALF PROFIT MAY DROP ON COAL PRICES
 Bloomberg Reported that, Banpu Pcl, Thailand’s biggest coal producer, expects profit to decline in the second half from the first six months after the price of the fuel fell because of the global recession and on lower earnings from its power unit.
The company has contracted to sell coal from mines in China, Indonesia and Thailand at “slightly” more than $60 a metric ton on average in the six months to Dec. 31, Chief Executive Officer Chanin Vongkusolkit said in an interview in Bangkok today. That’s about 29 percent lower than $84 a ton in the first quarter. He didn’t give a figure for the April to June period.
Bangkok-based Banpu posted a record quarterly profit in the first three months of 2009 as it benefited from locking in supply contracts when prices surged to a record in July last year. Power-station coal at Australia’s Newcastle port, a benchmark for Asia, has slumped more than 60 percent in a year as the worst recession since World War II sapped energy demand.
“It’s hard to achieve those unprecedented earnings,” Chanin said in his office at Banpu’s headquarters. “Power plants will also need maintenance shutdowns in the second half after running ahead of output projections in the first six months.”
Unit BLCP Power Ltd. plans to shut its 1,400-megawatt plant in Rayong province, 200 kilometers (124 miles) east of Bangkok, for a month later this year, he said.
Banpu has climbed 46 percent this year in Bangkok trading, outpacing the 36 percent gain in Thailand’s benchmark SET Index. The stock was up 2.2 percent at 333 baht at 2:39 p.m. local time.
Profit, Acquisitions
Net income in the first quarter more than doubled from a year earlier to 4.8 billion baht ($141 million). Banpu, due to report earnings on Aug. 10, probably posted a profit of 3.14 billion baht in the second quarter, according to the median estimate of five analysts in a Bloomberg survey. That would bring first-half net income to 7.94 billion baht, an 82 percent increase from a year earlier.
Banpu, which has invested in the power business in countries such as China and Laos, is looking to acquire more coal mines and power plants, Chanin said. The recession offers buying opportunities because owners of unprofitable assets are more willing to negotiate, he said.
“The prices of mines and power plants are more reasonable after surging beyond reality last year,” Chanin said. “The company will swiftly make a decision as soon as there is a viable opportunity.”
Banpu on July 8 lost a bid to DMCI Holdings Inc. for a 600- megawatt coal-fired power plant in a Philippine government auction.
Sales Outlook
The company’s coal sales in 2010 may rise by at least 10 percent from an estimated 20.5 million tons this year on new mines in Indonesia, its biggest production base, and China, he said. Banpu mainly produces coal used in power stations and ships it to customers in Japan, South Korea and Taiwan.
Banpu locked in about 30 percent of next year’s estimated coal output through forward contracts and other derivatives, Chanin said. The average selling price was little changed from an average estimate of $72 a ton for 2008, he said.
Power station coal prices at Australia’s Newcastle port reached a record $194.79 a ton in July 2008 before tumbling to $76.23 a ton in the week ended July 17, according to globalCOAL NEWC Index.
Source: Bloomberg
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Tuesday, 28 July 09
SHENZHEN ENERGY INKS COAL PURCHASE CONTRACT WITH CHINA SHENHUA
China Knowledge reported that, Shenzhen Energy Group Co Ltd has signed a five-year contract with China Shenhua Energy Co Ltd, which is engaged in th ...
Tuesday, 28 July 09
BUKIT ASAM ENJOYS STRONG FIRST HALF
The Jakarta Post reported that, state coal miner PT Tambang Batubara Bukit Asam (PTBA) enjoyed a strong first half performance with six-month net pr ...
Tuesday, 28 July 09
NEWCASTLE LOADED 1.943 MILLION TONS OF COAL IN THE WEEK ENDED 27TH JULY 2009
COALspot.com (Singapore) : The volume exported from Australia’s Newcastle port in the week ended - 07:00 hours 27 July 2009 ...
Monday, 27 July 09
INDIA PAYING HIGHEST PRICE FOR S.AFRICA COAL - PRODUCERS
* Spread between South African and Pacific origin coal very wide
* Lack of European buying makes India indicator of value
Reuters reported that, ...
Monday, 27 July 09
TAIWAN'S FORMOSA EYES S.AFRICAN COAL FOR Q4: TRADE
Reuters reported that, Taiwan's Formosa Plastics Group is looking to buy two South African thermal coal cargoes for delivery in the fourth-quarter, ...
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- Economic Council, Georgia
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- Merrill Lynch Commodities Europe
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- Singapore Mercantile Exchange
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- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
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- Central Electricity Authority - India
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- IHS Mccloskey Coal Group - USA
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- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Cigading International Bulk Terminal - Indonesia
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