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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, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
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