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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, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Bhatia International Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- White Energy Company Limited
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
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