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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, 03 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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- Renaissance Capital - South Africa
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Indian Energy Exchange, India
- VISA Power Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Minerals Council of Australia
- Thai Mozambique Logistica
- White Energy Company Limited
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
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