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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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Monday, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- The University of Queensland
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
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