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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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Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
...
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- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
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