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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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Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize
A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...
Thursday, 18 October 18
SUPRAMAX: INDO/WC INDIA SUPRAS ARE FIXING AROUND MID $14000S P/D BASIS SPORE DELIVERY
Capesize
The volatile Cape market continues this week, especially in the Pacific says Fearnleys in its latest weekly report.
...
Thursday, 18 October 18
COAL SHORTAGE HITS POWER SECTOR AGAIN; HOW INDIA CAN GET ITS PRODUCTION RIGHT - ANIL SWARUP
By convincing states of the value proposition of increased production, the record production of Fy15 & Fy16 can be emulated.
The ...
Thursday, 18 October 18
CHINA POWER REFORM NEUTRAL ON GRIDS, PRESSURES IPP MARGINS - FITCH RATINGS
China's power sector reform has a broadly neutral impact on transmission grids although it will pressure the power producers' margins, says ...
Wednesday, 17 October 18
ESCROW SERVICE FOR BALTIC MEMBERS NOW LIVE
The Baltic Exchange’s Escrow Service for its members to hold deposits for ship sale transactions goes live today (15 October). The service is ...
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Showing 1586 to 1590 news of total 6871 |
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- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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