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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, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Vedanta Resources Plc - India
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