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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 $364 million, the statement said.
Source: Bloomberg
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Monday, 17 August 09
COAL IMPORTS SURGE IN H1
China is one of the world's leading coal producers. But even so, imports of coal have surged in the first half of the year, hitting a record in Jun ...
Monday, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
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- Banpu Public Company Limited - Thailand
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- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
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- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
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- Independent Power Producers Association of India
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- Parliament of New Zealand
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- PowerSource Philippines DevCo
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- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
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- TeaM Sual Corporation - Philippines
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- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
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- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
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- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
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- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
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- SMC Global Power, Philippines
- Ministry of Transport, Egypt
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- Baramulti Group, Indonesia
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- Electricity Authority, New Zealand
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- Australian Commodity Traders Exchange
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- IEA Clean Coal Centre - UK
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- Edison Trading Spa - Italy
- CNBM International Corporation - China
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- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
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- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Energy Development Corp, Philippines
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- Minerals Council of Australia
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