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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, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
...
Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- PTC India Limited - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
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