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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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Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
Friday, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
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- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- SMG Consultants - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- The University of Queensland
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- MS Steel International - UAE
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
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