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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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Friday, 17 August 18
MALAYSIA'S MANJUNG 4 - WORLD COAL ASSOCIATION
According to the IEA’s Energy Access Outlook 2017 report, nearly all of those who gained access to electricity worldwide in the last 16 years ...
Thursday, 16 August 18
COAL PRODUCTION AT 37.11 PERCENT OF FULL-YEAR TARGET - THE JAKARTA POST
Indonesian coal production was recorded at 180 million tons on Wednesday, or 37.11 percent of the government’s 485 million target this year.
...
Thursday, 16 August 18
OIL MARKET HIGHLIGHTS - OPEC
Crude Oil Price Movements
In July, the OPEC Reference Basket increased marginally by 5¢ m-o-m to settle at $73.27/b. Oil futures saw mixed ...
Tuesday, 14 August 18
THE CAPESIZE MARKET HAS SHOWN A TREMENDOUS COURSE DURING THE PAST 12 MONTHS - THOMAS CHASAPIS
The Capesize market has shown a tremendous course during the past 12 months, having quickly climbed out of the “hole that it had found itself ...
Monday, 13 August 18
A 50,200 DWT FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA REDELIVERY CHINA IN THE LOW $10,000S - THE BALTIC BRIEFING
Capesize
Expectations of a further push in the market were largely unfulfilled last week as rates come under pressure in Asia as the North Atla ...
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- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
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