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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, 25 September 18
THE INCONVENIENT TRUTH OF RISING COAL PRICES - FORBES
Coal prices are not supposed to be rising as governments tighten environmental controls but that’s precisely what is happening at the premium ...
Saturday, 22 September 18
SHIPOWNERS URGENTLY NEED A FUEL-MANAGEMENT PLAN - METTE KRONHOLM FRAENDE, BIMCO
With the majority of ship operators expected to choose low-sulphur fuel over scrubbers to comply with the new IMO sulphur cap regulation, all eyes ...
Saturday, 22 September 18
GERMANY'S MOVE TO SCRAP COAL WILL COST TAXPAYERS - BRIAN PARKIN | WILLIAM WILKES
Chancellor Angela Merkel’s plan to close Germany’s remaining coal-fired power stations will drive up subsidies for regions that mine th ...
Saturday, 22 September 18
FITCH RATINGS: WORLD GROWTH FORECAST CUT ON US-CHINA TRADE BATTLE
Protectionist US trade policies have now reached the point where they are materially affecting what remains a strong global growth outlook, with th ...
Tuesday, 18 September 18
COOLING OUTLOOK FOR COAL - KATE JONES
At a time of increasing focus on the renewables market as the world seeks to clean up its act to prevent climate change, what is the outlook like f ...
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Showing 1611 to 1615 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
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