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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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Monday, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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Showing 1716 to 1720 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- The University of Queensland
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- London Commodity Brokers - England
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
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