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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, 05 September 18
ASIAN DEMAND COULD CREATE DEFICIT IN GLOBAL LNG MARKET - FITCH RATINGS
Growing gas demand from Asia, particularly from China, could swing the liquefied natural gas (LNG) market into a deficit by 2022-2025, Fitch Rating ...
Tuesday, 04 September 18
SUPRAMAX: THE ASIAN SECTOR REMAINED ACTIVE WITH RATES STILL FIRM ESPECIALLY IN SE ASIA - BALTIC BRIEFING
Capesize
A turnaround in fortunes for the big ships, with a few slower days in the market. A build-up of tonnage and a lack of Brazil cargoes r ...
Thursday, 30 August 18
SUPRAMAX: CIS COAL TO FAR EAST WENT AT MID TENS AND TO SE ASIA AT CA USD 8000 - FEARNLEYS
Capesize
There was a slow start this week with holiday in UK on Monday. The index has been slowly coming off since then; The C5 route has seen ...
Wednesday, 29 August 18
MID-YEAR FY19 POWER OUTLOOK: IMPORTED COAL REQUIREMENT TO INCREASE DURING REMAINING FY19: IND-RA
India Ratings and Research (Ind-Ra) has maintained a stable-to-negative outlook on the Indian power sector for the remaining FY19, despite a rise i ...
Wednesday, 29 August 18
IMPACT ON CHARTERPARTIES - TIME TO ACT NOW : NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
The challenges introduced by the global sulphur cap are not exclusively technical. The new limits are likely to impact co ...
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- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- VISA Power Limited - India
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Planning Commission, India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
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