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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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Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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Showing 1721 to 1725 news of total 6871 |
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- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
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