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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, 17 September 18
GLENCORE RETURNS TO JAPAN COAL TALKS SCUPPERED BY HIGH PRICES - BLOOMBERG
Mining giant Glencore Plc and Japanese utilities have resumed thermal coal supply negotiations, restarting talks that fell apart earlier this year ...
Monday, 17 September 18
SMALL PERCENTAGE OF THE WORLD FLEET WILL FIT SCRUBBERS - FORECASTS : METTE KRONHOLM FRAENDE
In recent months, there have been numerous reports of a strong pick-up in demand for scrubbers. On 1 January 2020, however, the number of ships fit ...
Saturday, 15 September 18
POWERING SUSTAINABLE DEVELOPMENT WITH LOW EMISSION COAL TECHNOLOGIES - WCA
In its 5th Strategic Energy Plan this year (2018), the Japanese Cabinet recognised coal as an important energy resource, necessary for the country& ...
Friday, 14 September 18
10 YEARS ON FROM LEHMAN, HOW IS SHIPPING'S "HANGOVER"? - CLARKSONS RESEARCH
On 15th September 2008, the collapse of Lehman Brothers crystallised the financial crisis and the onset the worst economic downturn for a century. ...
Thursday, 13 September 18
OPEC SEES SLOWER 2019 OIL DEMAND GROWTH, WARNS ON ECONOMY
Crude Oil Price Movements
In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down ...
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Showing 1616 to 1620 news of total 6871 |
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- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Planning Commission, India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- White Energy Company Limited
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Romanian Commodities Exchange
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