Banpu reports higher Q1 coal sales

Thai energy firm Banpu Plc reported on Friday coal sales volume reached 4.54 million tons in the first quarter of 2008, higher five percent compared the same period of last year, but lower 10 percent compared to the previous quarter.

"Coal sales slightly increased due to a 10-day suspension of ship loaders at Bontang Coal Terminal in February and subsequence declaration of force majeure in previous year," it said

Banpu said, its subsidiaries Indominco Mandiri and Trubaindo Coal Mining, together contributed 3.56 million tons or 78 percent of the total shipment compared to 75 percent in the corresponding period of last year.

The average selling price rose by 37 percent from the same quarter of last year and 12 percent from the previous quarter to US$49.39 per ton.

"This reflects higher contracted prices according to the regional market prices and higher portion of sale from good quality mines," it added (denny)