Sunday, 19 Feb 2012
Thailand's top energy firm PTT Pcl reported a 26% drop in quarterly net profit on Friday, in line with market expectations, as domestic fuel demand was hit by floods and petrochemical and oil margins fell.
Analysts said that earnings at PTT, Asia Pacific's third biggest listed oil and gas firm by market value, are expected to recover in the first quarter and further in 2012 due to improved gas demand and higher contributions from its petrochemical affiliates and upstream unit.
Mr Youssef Abboud senior analyst at Thanachart Securities said that " Beyond Q4, we should see an improvement quarter-on-quarter in gas volume as demand from electricity producers will pick up as the impact of the floods recedes.
State controlled PTT, Thailand's most valuable company, posted an October-December net profit of THB 16.6 billion (USD 540 million), down from a revised 22.49 billion a year earlier and below the 17 billion baht forecast in a poll by Thomson Reuters I/B/E/S.
For 2011, the company posted a record net profit of THB 105.3 billion, up by 25.4% from 83.09 billion in 2010. This compared with a forecast of THB 106 billion.
(Sourced from Reuters)
Showing posts with label Thailand's coal miner. Show all posts
Showing posts with label Thailand's coal miner. Show all posts
Sunday, February 19, 2012
Monday, January 23, 2012
TTA seeks plants for coal output
Monday, 23 January 2012
Thoresen Thai Agencies (TTA), a leading SET-listed dry bulk carrier, is studying a possible investment in coal-fired power plants in Indonesia and the Philippines and a deep-sea port in Myanmar.
With a coal output of 4-5 million tonnes a year, TTA will be ready to operate power plants, said M.L. Chandchutha Chandratat, the president and chief executive. Under the current plan, TTA plans to produce 3 million tonnes of Indonesian coal and one million tonnes from the Philippines by 2014.
TTA and three partners have been awarded a concession for four coal exploration blocks covering 200,000 rai in Kalimantan, on Borneo.
The company is producing coal from its first mine in the Philippines and looking for a second mine there.
"We are considering investment in power plants near our mines in Indonesia and the Philippines so we don't have to spend a lot on logistics cost," said M.L. Chandchutha.On Cebu in the Philippines and Borneo in Indonesia, there are large-scale coal-fired power plants in operation, he acknowledged.Meanwhile, TTA has been invited by Premchai Karnasuta, chairman of Italian-Thai Development Plc, to co-invest in a deep-sea port in Dawei, Myanmar.
Thailand's largest construction firm by market value is seeking partners and mobilising at least US$12.5 billion this year to develop infrastructure on the coast of the neighbouring country."I agree there's a lot of potential in Myanmar and we are interested," said M.L. Chandchutha. "However, we need time to study the regulations there, as well as strategic partners who understand this business quite well." TTA owns a 20% share of Baria Serece, which operates the largest deep-water port in southern Vietnam.
M.L. Chandchutha said TTA plans to dilute its ownership in Unique Mining Services (UMS), a SET-listed coal importer and distributor, from 86% now. TTA acquired shares and warrants of UMS in late 2009 with a total investment of 3.9 billion baht at 23 baht per share. UMS shares now trade at 13-14 baht.
"We will consider reducing shares when the price improves, and we will still take control of more than 50% in the coal mine subsidiary, as TTA has a plan for long-term investment in energy," said M.L. Chandchutha.TTA has said that its core shipping business will bottom out this year as the new supply of ships eases from next year onwards.
In 2011, 70 million tonnes of vessels arrived on the market, denoting a 14% increase from the year before.
Supply is expected to rise by 10% or more this year, but the gloomy global economic outlook will continue to pressure the demand side. "We expect the Baltic Dry Index (BDI) to stay on par with last year's level or even worse," said M.L. Chandchutha. The BDI, a measure of shipping cost for dry-bulk commodities, just slipped below 1,000 points, compared with last year's low of 1,043.
"Our shipping business might be flat from last year or slightly drop, but it should gradually recover from this quarter onwards," he said.
Source: Bangkok Post
Thoresen Thai Agencies (TTA), a leading SET-listed dry bulk carrier, is studying a possible investment in coal-fired power plants in Indonesia and the Philippines and a deep-sea port in Myanmar.
With a coal output of 4-5 million tonnes a year, TTA will be ready to operate power plants, said M.L. Chandchutha Chandratat, the president and chief executive. Under the current plan, TTA plans to produce 3 million tonnes of Indonesian coal and one million tonnes from the Philippines by 2014.
TTA and three partners have been awarded a concession for four coal exploration blocks covering 200,000 rai in Kalimantan, on Borneo.
The company is producing coal from its first mine in the Philippines and looking for a second mine there.
"We are considering investment in power plants near our mines in Indonesia and the Philippines so we don't have to spend a lot on logistics cost," said M.L. Chandchutha.On Cebu in the Philippines and Borneo in Indonesia, there are large-scale coal-fired power plants in operation, he acknowledged.Meanwhile, TTA has been invited by Premchai Karnasuta, chairman of Italian-Thai Development Plc, to co-invest in a deep-sea port in Dawei, Myanmar.
Thailand's largest construction firm by market value is seeking partners and mobilising at least US$12.5 billion this year to develop infrastructure on the coast of the neighbouring country."I agree there's a lot of potential in Myanmar and we are interested," said M.L. Chandchutha. "However, we need time to study the regulations there, as well as strategic partners who understand this business quite well." TTA owns a 20% share of Baria Serece, which operates the largest deep-water port in southern Vietnam.
M.L. Chandchutha said TTA plans to dilute its ownership in Unique Mining Services (UMS), a SET-listed coal importer and distributor, from 86% now. TTA acquired shares and warrants of UMS in late 2009 with a total investment of 3.9 billion baht at 23 baht per share. UMS shares now trade at 13-14 baht.
"We will consider reducing shares when the price improves, and we will still take control of more than 50% in the coal mine subsidiary, as TTA has a plan for long-term investment in energy," said M.L. Chandchutha.TTA has said that its core shipping business will bottom out this year as the new supply of ships eases from next year onwards.
In 2011, 70 million tonnes of vessels arrived on the market, denoting a 14% increase from the year before.
Supply is expected to rise by 10% or more this year, but the gloomy global economic outlook will continue to pressure the demand side. "We expect the Baltic Dry Index (BDI) to stay on par with last year's level or even worse," said M.L. Chandchutha. The BDI, a measure of shipping cost for dry-bulk commodities, just slipped below 1,000 points, compared with last year's low of 1,043.
"Our shipping business might be flat from last year or slightly drop, but it should gradually recover from this quarter onwards," he said.
Source: Bangkok Post
Wednesday, November 16, 2011
Banpu Plc poised to gain as demand drives up coal prices
Wednesday, 16 Nov 2011
Thailand's biggest coal miner Banpu Plc expects average coal prices in 2012 to be higher than the price of USD 97 per tonne in 2011, thanks to higher regional demand.
Ms Somruedee Somphong CFO of Banpu Plc said that the company would secure 50% of next year's coal sales contracts by next month. The company this year expects to sell 40 million tonnes of coal, with 25 million from its five mines in Indonesia. Of the 15 million tonnes sold in Australia, 35% is exported.
Ms Somruedee said that the target next year would be 16 million tonnes with 40% exported. She added that "This will cause average selling prices to increase, as export prices are higher than prices in the domestic market."
Banpu, which last year acquired Australia's Centennial Coal Co, expects a minimal impact from Australia's new clean energy act, which will impose carbon taxes starting in July. It estimated the law would add only 30 cents a tonne to Centennial's cost of production.
Meanwhile, Banpu expects its most recent acquisition of Perth based Hunnu Coal to be finalized by December 2011. Production will start in 2013 at 3 to 5 million tonnes per year initially.
Banpu's net profit in the third quarter of this year totaled THB 4.21 billion, dropped by 68.4% YoY from THB 13.28 billion. However, last year it had an extraordinary gain from selling an 8.72% stake in PT Indo Tambangraya Megah Tbk worth THB 11.7 billion. Net profit in the third quarter was down 33% from the second quarter.
Nine month consolidated net profit was THB 16.53 billion as compared with THB 19.76 billion in the same period last year. Sales revenue in the third quarter totaled THB 30.69 billion, a rise of THB 16.99 billion or 124% from the same period last year due to a 117% increase in volume to 10.94 million tonnes.
The average selling price of coal from the company's Indonesian mines rose by 27% YoY in the third quarter to USD 98.99 per tonne. Revenue from coal sales is 96% of total sales revenue, which includes THB 20.7 billion from sales in Indonesia, THB 8.83 billion from Australia and THB 8 million from Thailand, where the company's mines are almost depleted. Revenue from electricity sales from its three plants in China as well as other revenue totaled THB 1.15 billion or 4% of total sales.
Mr Chanin Vongkusolkit CEO of Banpu Plc said that profit margin in the third quarter for the coal business was 47%, with higher sales in Indonesia and rising prices.
(source from Bangkokpost)
Thailand's biggest coal miner Banpu Plc expects average coal prices in 2012 to be higher than the price of USD 97 per tonne in 2011, thanks to higher regional demand.
Ms Somruedee Somphong CFO of Banpu Plc said that the company would secure 50% of next year's coal sales contracts by next month. The company this year expects to sell 40 million tonnes of coal, with 25 million from its five mines in Indonesia. Of the 15 million tonnes sold in Australia, 35% is exported.
Ms Somruedee said that the target next year would be 16 million tonnes with 40% exported. She added that "This will cause average selling prices to increase, as export prices are higher than prices in the domestic market."
Banpu, which last year acquired Australia's Centennial Coal Co, expects a minimal impact from Australia's new clean energy act, which will impose carbon taxes starting in July. It estimated the law would add only 30 cents a tonne to Centennial's cost of production.
Meanwhile, Banpu expects its most recent acquisition of Perth based Hunnu Coal to be finalized by December 2011. Production will start in 2013 at 3 to 5 million tonnes per year initially.
Banpu's net profit in the third quarter of this year totaled THB 4.21 billion, dropped by 68.4% YoY from THB 13.28 billion. However, last year it had an extraordinary gain from selling an 8.72% stake in PT Indo Tambangraya Megah Tbk worth THB 11.7 billion. Net profit in the third quarter was down 33% from the second quarter.
Nine month consolidated net profit was THB 16.53 billion as compared with THB 19.76 billion in the same period last year. Sales revenue in the third quarter totaled THB 30.69 billion, a rise of THB 16.99 billion or 124% from the same period last year due to a 117% increase in volume to 10.94 million tonnes.
The average selling price of coal from the company's Indonesian mines rose by 27% YoY in the third quarter to USD 98.99 per tonne. Revenue from coal sales is 96% of total sales revenue, which includes THB 20.7 billion from sales in Indonesia, THB 8.83 billion from Australia and THB 8 million from Thailand, where the company's mines are almost depleted. Revenue from electricity sales from its three plants in China as well as other revenue totaled THB 1.15 billion or 4% of total sales.
Mr Chanin Vongkusolkit CEO of Banpu Plc said that profit margin in the third quarter for the coal business was 47%, with higher sales in Indonesia and rising prices.
(source from Bangkokpost)
Saturday, November 12, 2011
Banpu poised to gain as demand drives up coal prices
Saturday, 12 Nov' 2011
Banpu Plc, Thailand's biggest coal miner, expects average coal prices next year to be higher than this year's price of US$97 per tonne, thanks to higher regional demand.
Chief financial officer Somruedee Somphong said the company would secure 50% of next year's coal sales contracts by next month.
The company this year expects to sell 40 million tonnes of coal, with 25 million from its five mines in Indonesia. Of the 15 million tonnes sold in Australia, 35% is exported. Mrs Somruedee said the target next year would be 16 million tonnes with 40% exported.
"This will cause average selling prices to increase, as export prices are higher than prices in the domestic market," she said yesterday.
Sales from Indonesia next year are forecast to rise to 27 million tonnes.
Banpu, which last year acquired Australia's Centennial Coal Co, expects a minimal impact from Australia's new clean energy act, which will impose carbon taxes starting in July. It estimated the law would add only 30 cents a tonne to Centennial's cost of production.
Meanwhile, Banpu expects its most recent acquisition of Perth-based Hunnu Coal to be finalised by December. Production will start in 2013 at 3-5 million tonnes per year initially.
Banpu's net profit in the third quarter of this year totalled 4.21 billion baht, a 68.4% decrease from 13.28 billion in the same period last year. However, last year it had an extraordinary gain from selling an 8.72% stake in PT Indo Tambangraya Megah Tbk worth 11.7 billion baht.
Net profit in the third quarter was down 33% from the second quarter.
Nine-month consolidated net profit was 16.53 billion baht (60.83 baht a share), compared with 19.76 billion (72.70 baht a share) in the same period last year.
Sales revenue in the third quarter totalled 30.69 billion baht, a rise of 16.99 billion baht or 124% from the same period last year due to a 117% increase in volume to 10.94 million tonnes.
The average selling price of coal from the company's Indonesian mines rose 27% year-on-year in the third quarter to $98.99 per tonne.
Revenue from coal sales is 96% of total sales revenue, which includes 20.7 billion baht from sales in Indonesia, 8.83 billion from Australia and 8 million from Thailand, where the company's mines are almost depleted.
Revenue from electricity sales from its three plants in China as well as other revenue totalled 1.15 billion baht or 4% of total sales.
CEO Chanin Vongkusolkit said profit margin in the third quarter for the coal business was 47%, with higher sales in Indonesia and rising prices.
BANPU shares closed yesterday on the SET at 580 baht, down two baht, in trade worth 636.55 million baht.
(sourced BangkokPost)
Banpu Plc, Thailand's biggest coal miner, expects average coal prices next year to be higher than this year's price of US$97 per tonne, thanks to higher regional demand.
Chief financial officer Somruedee Somphong said the company would secure 50% of next year's coal sales contracts by next month.
The company this year expects to sell 40 million tonnes of coal, with 25 million from its five mines in Indonesia. Of the 15 million tonnes sold in Australia, 35% is exported. Mrs Somruedee said the target next year would be 16 million tonnes with 40% exported.
"This will cause average selling prices to increase, as export prices are higher than prices in the domestic market," she said yesterday.
Sales from Indonesia next year are forecast to rise to 27 million tonnes.
Banpu, which last year acquired Australia's Centennial Coal Co, expects a minimal impact from Australia's new clean energy act, which will impose carbon taxes starting in July. It estimated the law would add only 30 cents a tonne to Centennial's cost of production.
Meanwhile, Banpu expects its most recent acquisition of Perth-based Hunnu Coal to be finalised by December. Production will start in 2013 at 3-5 million tonnes per year initially.
Banpu's net profit in the third quarter of this year totalled 4.21 billion baht, a 68.4% decrease from 13.28 billion in the same period last year. However, last year it had an extraordinary gain from selling an 8.72% stake in PT Indo Tambangraya Megah Tbk worth 11.7 billion baht.
Net profit in the third quarter was down 33% from the second quarter.
Nine-month consolidated net profit was 16.53 billion baht (60.83 baht a share), compared with 19.76 billion (72.70 baht a share) in the same period last year.
Sales revenue in the third quarter totalled 30.69 billion baht, a rise of 16.99 billion baht or 124% from the same period last year due to a 117% increase in volume to 10.94 million tonnes.
The average selling price of coal from the company's Indonesian mines rose 27% year-on-year in the third quarter to $98.99 per tonne.
Revenue from coal sales is 96% of total sales revenue, which includes 20.7 billion baht from sales in Indonesia, 8.83 billion from Australia and 8 million from Thailand, where the company's mines are almost depleted.
Revenue from electricity sales from its three plants in China as well as other revenue totalled 1.15 billion baht or 4% of total sales.
CEO Chanin Vongkusolkit said profit margin in the third quarter for the coal business was 47%, with higher sales in Indonesia and rising prices.
BANPU shares closed yesterday on the SET at 580 baht, down two baht, in trade worth 636.55 million baht.
(sourced BangkokPost)
Thursday, November 3, 2011
Centennial Coal issues long term notes of USD 225 million
Thursday, 03 Nov 2011
Banpu PCL said that its wholly owned subsidiary, Centennial Coal Co has issued USD 225 million worth of long-term senior unsecured notes in the North American private placement debt market.
The notes, issued in different maturities of 10, 12 and 15 years, carry a weighted average coupon of 4.55%, the company said in a filing with the Stock Exchange of Thailand, without providing specific details.
The Thai coal miner said the proceeds will be used to repay and restructure existing debt.
(Sourced from Dow Jones Newswires)
Banpu PCL said that its wholly owned subsidiary, Centennial Coal Co has issued USD 225 million worth of long-term senior unsecured notes in the North American private placement debt market.
The notes, issued in different maturities of 10, 12 and 15 years, carry a weighted average coupon of 4.55%, the company said in a filing with the Stock Exchange of Thailand, without providing specific details.
The Thai coal miner said the proceeds will be used to repay and restructure existing debt.
(Sourced from Dow Jones Newswires)
Monday, March 21, 2011
Thai PTT completes Australian Straits Resources deal
Mon Mar 21, 2011 4:12am GMT
* Seeks delisting of Australian mining firm
* Shares up 1.5 pct, outperform market
BANGKOK, March 21 (Reuters) - Thailand's top energy company, PTT Pcl (PTT.BK: Quote) said on Monday it had completed the acquisition of Australia's Straits Resources Ltd (SRL.AX: Quote) and would delist the coal miner from the Australian stock exchange
PTT told the Thai exchange the Federal Court of Australia had approved the takeover, under which PTT Mining Ltd (PTTML) would acquire all of the shares in Straits Resources, renamed International Coal Holdings Ltd (ICL), for A$544.1 million ($546 million).
The company said all the shares in ICL had now been registered in the name of PTTML.
PTT said in November last year it was buying 100 percent of the Australian mining firm as part of its long-term strategy to focus on high-quality coal assets with good growth prospects.
PTT Mining is a wholly owned subsidiary of PTT International Co Ltd, a holding company set up to invest in overseas businesses for the Thai energy giant.
State-owned PTT, Asia-Pacific's third-largest listed oil and gas firm by market value, has been looking to snap up foreign assets in a bid to diversify risk and bolster its presence in the international market.
PTT spent $335 million in April 2009 to buy part of Straits Resources' coal and salt assets, its first foray into the coal business and its second investment in Australia.
The company had said it expected to boost its coal output after the Straits Resources and other acquisitions to 30 million tonnes in the next five years.
At 0334 GMT, PTT shares were up 1.5 percent at 342 baht while the broader market .SETI was 1 percent higher. ($1= 30.30 Baht) (Reporting by Ploy Ten Kate; Editing by Alan Raybould,sourced reuters)
PTT told the Thai exchange the Federal Court of Australia had approved the takeover, under which PTT Mining Ltd (PTTML) would acquire all of the shares in Straits Resources, renamed International Coal Holdings Ltd (ICL), for A$544.1 million ($546 million).
The company said all the shares in ICL had now been registered in the name of PTTML.
PTT said in November last year it was buying 100 percent of the Australian mining firm as part of its long-term strategy to focus on high-quality coal assets with good growth prospects.
PTT Mining is a wholly owned subsidiary of PTT International Co Ltd, a holding company set up to invest in overseas businesses for the Thai energy giant.
State-owned PTT, Asia-Pacific's third-largest listed oil and gas firm by market value, has been looking to snap up foreign assets in a bid to diversify risk and bolster its presence in the international market.
PTT spent $335 million in April 2009 to buy part of Straits Resources' coal and salt assets, its first foray into the coal business and its second investment in Australia.
The company had said it expected to boost its coal output after the Straits Resources and other acquisitions to 30 million tonnes in the next five years.
At 0334 GMT, PTT shares were up 1.5 percent at 342 baht while the broader market .SETI was 1 percent higher. ($1= 30.30 Baht) (Reporting by Ploy Ten Kate; Editing by Alan Raybould,sourced reuters)
Friday, March 4, 2011
Thai Banpu sees strong 2011 growth on higher coal price
Fri Mar 4, 2011 10:31am GMT
* Q1 sales seen up 69 pct, 2011 sales up 40 pct
* 2011 revenue seen at 90 bln baht vs forecasts of 106 bln
* To fully book revenue from Centennial in 2011
* Reviews business plan in China
* Shares up 0.3 percent, in line with market
By Pisit Changplayngam
NAKORN RATCHASIMA, Thailand, March 4 (Reuters) - Banpu Plc (BANP.BK: Quote), Thailand's top coal miner, expects sales to jump 40 percent in 2011 due to a rise in coal prices and higher revenue after its acquisition of Australia's Centennial Coal Co Ltd.
Banpu, also Indonesia's fourth-largest coal miner with five mines there, expected first-quarter revenue of 22 billion baht ($722 million), up 69 percent from 13 billion last year, Chief Executive Officer Chanin Vongkusolkit told reporters.
Banpu expects first-quarter coal sales of 5.5 million tonnes from Indonesia and 4 million tonnes from Australia, where it now has 10 mines after the acquisition of Centennial Coal last year.
"We will fully book revenue from Centennial this year. We expect revenue of about 90 billion baht this year because our sales volume will rise to 44-45 million tonnes from 25.9 million tonnes last year," Chanin said.
Banpu, which began to consolidate Centennial's earnings from the fourth quarter of last year, expected coal output of 26 million tonnes from Indonesia this year and 18-19 million tonnes from Australian operations, he said.
Banpu's 2011 revenue forecast was lower than market expectation. Analysts polled by Thomson Reuters I/B/E/S expected Banpu to post revenue of 106 billion baht.
In 2010, Banpu made a net profit of 24.7 billion baht on sales of 65 billion baht.
Chanin said he expected average coal prices in 2011 to be higher than $80 a tonne and close to $90, versus $74.65 in 2010.
In Indonesia, Banpu's PT Indo Tambangraya Megah Tbk (ITMG.JK: Quote) competes with bigger rivals PT Bumi Resources (BUMI.JK: Quote) and PT Adaro Energy (ADRO.JK: Quote).
The company owns three mines in China, including one in Daning whose operations have been suspended since January.
Chanin said Banpu was waiting for the government to allow operations to resume and the company was reviewing its business direction in China.
Banpu aimed to spend $140 million this year, of which $120 million would be spent on developing existing mines in Indonesia and $20 million in China, he said.
The investment is part of its announced investment of $466 million between 2010 and 2015.
It planned to sell up to 15 billion baht in bonds with maturities of seven, 10 and 12 years in March and the proceeds would be used to repay debt and finance investment, he said.
At the end of 2010, Banpu had debt of 90 billion baht including 10.3 billion baht in bonds, versus 30 billion baht at the end of 2009, chief financial officer Somruedee Chaimongkol said.
Banpu shares closed up 0.3 percent, in line with a 0.6 percent gain in the broad market .SETI.. ($1=30.48 Baht) (Writing by Khettiya Jittapong; Editing by Alan Raybould,sourced:Reuters)
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