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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, 01 October 18
A NO-DEAL BREXIT WILL UNDOUBTEDLY HAVE CONSEQUENCES FOR IMPORTERS AND EXPORTERS - KATE JONES, THE BALTIC BRIEFING
If you live in the UK, you might be finding it difficult to get away from the Brexit debate. “Hard Brexit”, “soft Brexit”, ...
Friday, 28 September 18
INDONESIA 2018 COAL OUTPUT TARGET NOW AROUND 507 MLN T - ENERGY MINISTRY : REUTERS
Indonesia has increased its 2018 coal production target to around 507 million tonnes from a previous target of 485 million tonnes, the Energy Minis ...
Friday, 28 September 18
FITCH RATINGS: METALLURGICAL COAL MINERS MAY CURB COSTS AS PRICES SLIP
Strong cost inflation in the global metallurgical coal sector suggests that miners may focus on cost controls as prices decline from their current ...
Wednesday, 26 September 18
IS YOUR CHARTER PARTY READY FOR 2020? - METTE KRONHOLM FRAENDE, BIMCO
As the deadline for the IMO’s global low-sulphur fuel requirements fast approaches, it is necessary to carefully check the bunker clauses in ...
Wednesday, 26 September 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Despite the fact that the dry bulk SnP market saw an admittedly busy summer season, there is a noticeable slowdown in activity during the past thre ...
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- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
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