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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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Tuesday, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
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