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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, 12 September 18
MARINE BUNKERS: THE END OF THE WORLD AS WE KNOW IT - IBIA
KNOWLEDGE TO ELEVATE
The world of bunkers is heading for rapid and fundamental changes and not just because of the 0.50% sulphur cap in 2020. ...
Wednesday, 12 September 18
SHIPPING MARKET INSIGHT - THEODORE NTALAKOS
A recovery in the shipping market since last year has buoyed optimism amongst the people in the industry. Yet if you are to ask most ship-owners if ...
Monday, 10 September 18
HANDYSIZE: PERIOD ACTIVITY REMAINED LIMITED WITH A 37,000DWT REPORTEDLY FIXED FOR FOUR TO SIX MONTHS AT $10,500, OPEN IN MALAYSIA IN MID-SEPTEMBER - BALTIC BRIEFING
Capesize
Rates came under pressure for the big ships last week, despite paper values holding at reasonable levels as these trades continued to ...
Thursday, 06 September 18
INDONESIAN COAL PRICE REFERENCE FALLS FOR FIRST TIME IN 3 MONTHS
COALspot.com: The benchmark price of Indonesian thermal coal falls for first time in three months.
According to the latest min ...
Thursday, 06 September 18
SUPRAMAX: SE ASIA-INDO ROUNDS WITH COAL HAVE BEEN CONCLUDED IN THE $13000S RANGE - FEARNLEYS
Capesize
The big ships experiencing a bump in the road towards what is commonly expected to be by far the best period of this year. Average dai ...
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- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Minerals Council of Australia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
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