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Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
 Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing and increased metallurgical coal volumes, the company said.
First quarter income from continuing operations, net of income taxes, totaled $208.3 million, reflecting $169.6 million of depreciation, depletion and amortization and $36.3 million of interest expense. Net income attributable to common stockholders totaled $106.6 million for the quarter and included a non-cash dividend charge of $102.5 million related to the conversion of preferred shares during the quarter. All remaining preferred shares converted to common stock as of Jan. 31, 2018.
According the company, Australian thermal realized pricing increased 10 percent to $53.42 per ton in the first quarter, supported by strong seaborne coal fundamentals despite a larger mix of lower-priced domestic Australian sales. Adjusted EBITDA margins totaled 31 percent for the Australian thermal segment as robust seaborne pricing mitigated the impacts of 17 percent lower volumes and higher costs associated with a scheduled longwall move at the Wambo Mine; impacts from weather; and temporary lack of coal availability due to geology at the Wilpinjong Mine.
Seaborne thermal and metallurgical coal pricing remained robust on solid Asian-Pacific demand, while experiencing a gradual rebasing from elevated levels in the first quarter, the company further said.
Through March, the company said, seaborne thermal coal demand rose compared to the prior year, supported by increased imports in China, India and ASEAN countries. Chinese thermal coal imports increased approximately 16 million tonnes over the prior year through March as cold weather drove an approximately 10 percent increase in power consumption and impacted domestic coal production and rail transportation. Indian thermal coal imports rose approximately 21 percent year over year due to utility restocking, weak domestic production and rail bottlenecks. ASEAN imports increased over the prior year on continued economic growth and rising coal generating capacity. Overall, Australian thermal coal exports were in line with the prior year.
With respect to seaborne metallurgical coal demand, global steel production increased 4 percent through February compared to the prior year. India imports increased 21 percent through March compared to the prior year on strong steel production, while Chinese metallurgical imports declined approximately 5 million tonnes year over year despite strong domestic steel production. At the same time, Australian metallurgical exports were in line with the prior year.
Seaborne metallurgical coal prompt prices increased approximately $60 per tonne to an average of $228 per tonne in the first quarter compared to the prior year, with the index-based settlement price for premium hard coking coal set at approximately $237 per tonne, compared to the prior year settlement of $285 per tonne. The first quarter benchmark low-vol PCI price was set at $156.50, with the second quarter benchmark low-vol PCI price negotiated at $155 per tonne.
In the U.S., thermal coal demand declined 3 percent from the prior year on increased gas and wind generation as weak natural gas pricing continues to suppress coal demand. As a result, Powder River Basin coal consumption was roughly flat through March year over year. U.S. thermal exports remained robust, increasing approximately 38 percent over the prior year. U.S. coal production declined approximately 3 percent in the first quarter. Combined, these factors led to ending March inventories decreasing approximately 10 million tons from the prior year to approximately 49 days of maximum burn.
Second Quarter 2018 Expectations compared to the first quarter, the company forecasts that, the Australian thermal volumes are expected to increase sequentially throughout the year and unit costs are expected to improve;
Metallurgical costs are expected to decline as operational improvements are anticipated to mitigate the impacts of a North Goonyella longwall move bridging the second and third quarters;
In the U.S., Peabody expects traditional lower shoulder season PRB volumes in the second quarter. In addition, the company anticipates second quarter costs to improve in the Midwest segment relative to the first quarter 2018 given improved equipment availability; and
According to company’s press release, Peabody is the leading global pure-play coal company, serving power and steel customers in more than 25 countries on six continents. The company offers significant scale, high-quality assets, and diversity in geography and products. Peabody is guided by seven core values: safety, customer focus, leadership, people, excellence, integrity and sustainability.
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Tuesday, 05 June 18
SOUTH KOREA'S SULPHUR CAP ALTERS ASIAN COAL MARKET DYNAMICS: RUSSELL
South Korea’s imposition of a strict sulphur cap on its imported coal is likely to cause ripples across Asia’s markets for the pollutin ...
Tuesday, 05 June 18
THINGS STILL LOOK TO BE PROMISING FOR THE DRY BULK MARKET OVER THE NEXT COUPLE OF MONTHS - GEORGE LAZARIDIS
Just as we thought the world was calming back down to reason, worries and frictions regarding global trade resurfaced this past week after a series ...
Tuesday, 05 June 18
INDONESIAN COAL PRICE REFERENCE IS GOING UP AGAIN
COALspot.com: According to latest ministerial decree No. 1857 K/30/MEM/2018 dated 4 June 2018, the Indonesian Coal Price Reference (HBA) up 7.91 pe ...
Saturday, 02 June 18
HOW CARBON UTILISATION WILL BE A KEY STEP IN INDIA'S CLIMATE STRATEGY - BENJAMIN SPORTON
For India, energy remains the key driver of growth, not only from an economic perspective but more importantly for accelerating social development. ...
Thursday, 31 May 18
SUPRAMAX: INDO/CHINA COAL RV IS GETTING FIXED AROUND $13K DELIVERY SINGAPORE - FEARNLEYS
Capesize
The Cape market has been on a downward trend for the past week.
According to Fearnleys, Oslo based broker, Brazil market ...
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- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Economic Council, Georgia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
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