Nguyen Son Ha, Viet Nam trade counsellor in India, said two way trade turnover in the same period was estimated at $3.94 billion, up 39.2 per cent.

Source: Vietnamnews

Many Listed Coal Companies Face Difficulties (19/11)

The coal industry has great potential. About 39 percent of the electricity produced worldwide is from coal and this rate will be maintained until 2030. Coal is vital not only for electricity production, but also as raw material for a number of industries such as steel, metal, cement, liquid fuels, paper and fertilizer. However, in the first ten months of 2013, coal consumption output in Vietnam reached over 30.5 million tonnes, down 29 percent compared to the same period of 2012. Of which, export coal output decreased 29.2 percent.

Coal export faces difficulties because coal consumption in the world and China has fallen. The amount of standard coal in stock reached about 6.1 million tonnes as of the end of October.

Mr Nguyen Van Bien, Deputy General Director of the Vietnam Coal and Mineral Industries Group (Vinacomin) said: “Vinacomin's coal sales in the third quarter (Q3) met only 15.6 percent of the annual target, decreasing 40 percent due to reductions in domestic coal consumption and export price.

This year, Vinacomin aims to sell more than 39 million tonnes of coal, equivalent to last year's figure.

At 8 companies listed coal, according to Vinacomin, Nui Beo Coal JSC. (NBC) generated revenue of VND275.4 billion in Q3 of this year, versus VND494.4 billion in the same period of last year. In the first 9 months of 2013, NBC reported VND6 billion net profit on VND1.5 trillion revenue, compared to VND45.4 billion and VND1.3 trillion a year earlier, respectively.

Vinacomin Coc Sau Coal JSC. (TC6) swung to a net profit of VND16 billion in Q3/2013 from a net loss of VND1.3 billion a year before, the firm said in its quarterly financial statements. The company generated revenue of VND797 billion in Q3 of this year, versus VND738 billion over the same period of last year. In the first 9 months of 2013, TC6 reported VND38 billion net loss on VND3 trillion revenue, compared to VND19 billion net profit and VND2.6 trillion revenue a year earlier.

Hatu Coal JSC (THT) suffered a net loss of VND2.2 billion in Q3/2013, versus a net loss of VND1 billion a year before, the firm said in its quarterly financial statements. The company generated revenue of VND300.4 billion in Q3 of this year, versus VND270 billion over the same period of last year. In the first 9 months of 2013, THT reported VND9.3 billion net profit on VND1.3 trillion revenue, compared to VND21 billion net loss and VND1.1 trillion a year earlier.

Ha Lam Coal JSC (HLC)’s net profit fell 36 percent to VND12 billion in the first 9 months of 2013 from VND18.7 billion a year before, the firm said in its quarterly financial statements. The company generated revenue of VND1.3 trillion in the period of this year, versus VND1.16 trillion in the same period of last year. In Q3/2013, HLC reported VND487.6 million net profit on VND441.1 billion revenue, compared to VND4.4 billion and VND403.1 billion a year earlier.

Mong Duong Coal JSC. (MDC) swung to a net loss of VND31.4 billion in the first nine months of 2013 from a net profit of VND15.6 billion a year earlier, the firm said in its Q3 financial statements. The company generated revenue of VND999 billion in the period of this year, versus VND1.2 trillion over the same period of last year. In Q3/2013, MDC reported VND32.7 billion net loss on VND292.6 billion revenue, compared to VND978 million net profit and VND292.8 billion revenue a year earlier.

Vang Danh Coal JSC (TVD) swung to a net profit of VND5.9 billion in Q3/2013 from a net loss of VND9 billion a year earlier, the firm said in its Q3 financial statements. The company generated revenue of VND428.3 billion in the period of this year, versus VND375.4 billion over the same period of last year. In Q3/2013, TVD reported VND30.4 billion net profit on VND1.86 trillion revenue, compared to VND7.4 billion net loss and VND1.7 trillion a year earlier.

Source: VCCI