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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, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
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- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
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