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Thursday, 13 August 09
NOBLE'S PROFIT DOUBLES ON GLOUCESTER COAL ACQUISITION
 Bloomberg reported that, Noble Group Ltd., a Hong Kong-based supplier of raw materials from soybeans to coal, said second- quarter profit more than doubled, helped by a one-time gain from the acquisition of Gloucester Coal Ltd.
Net income rose to $248.8 million, or 7.45 cents a share, in the three months to June 30, from $122.5 million, or 3.64 cents, a year earlier, the company said today in a statement to the Singapore Exchange. Sales fell 31 percent to $7.17 billion.
Noble won control of Sydney-based Gloucester Coal in May after raising its cash bid to A$460 million ($387 million) for shares it didn’t already own in the coal miner. First-half net profit margin rose to 1.4 percent, after adjustments for one- time gains, compared with 1.2 percent a year earlier.
“In what remained a difficult economic environment, Noble’s first-half performance represents a very solid result,” Chairman David Eldon said in a statement today. “We have been particularly encouraged by the fact that our net profit margins widened as our pipeline strategy gains traction.”
The Reuters/Jefferies CRB Index, which tracks 19 raw materials including soybeans, sugar, nickel and aluminum, gained 13 percent in the second quarter, after falling 4 percent in the previous three months. The Baltic Dry Index, a measure of shipping costs for commodities, more than doubled to 3,757 at the end of the second quarter from the previous three months, boosted by shipments to China.
Noble shares have gained 96 percent this year, valuing the company at S$6.7 billion ($4.7 billion). The stock rose 2 percent to S$2 on the Singapore stock exchange today before the financial results were released.
Record Volume
Noble handled a record 93 million tons of products in the first half, up 19 percent from a year earlier, the statement said. Agricultural products reported a 7.2 percent gain in gross profit to $224 million, near a record for a six-month period, Noble said.
Commodity suppliers are benefiting as China, the world’s biggest consumer of metals and oilseeds, boosted purchases to build up its stockpiles. China is spending 4 trillion yuan ($586 billion) on an economic stimulus package.
Noble’s energy division, which accounts for about half of its revenue, reported sales of $7.3 billion in the first half, 31 percent lower than a year earlier, the statement said. Sales of metals and minerals including copper and iron ore fell 39 percent to $2.1 billion.
Revenue from agriculture including grains, oilseeds, cocoa and cotton decreased 30 percent to $3.4 billion, the company said. Sales from logistics slid 60 percent to $364 million, the statement said.
Source: Bloomberg
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Tuesday, 01 September 09
THREE COAL INVESTMENTS AND A SECTOR ON FIRE
With recession fears fading into the past in Asia and growth increasingly back on track in the West, global energy demand is again surging. It's no ...
Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
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- Simpson Spence & Young - Indonesia
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- Trasteel International SA, Italy
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- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
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- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
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- GVK Power & Infra Limited - India
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- Mercator Lines Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
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- Globalindo Alam Lestari - Indonesia
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- Toyota Tsusho Corporation, Japan
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- Australian Coal Association
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- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
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- Wilmar Investment Holdings
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- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
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- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
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- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
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- PowerSource Philippines DevCo
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- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
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- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
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- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
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- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
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- Planning Commission, India
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- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Agrawal Coal Company - India
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- IEA Clean Coal Centre - UK
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- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
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- Commonwealth Bank - Australia
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- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
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- Renaissance Capital - South Africa
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