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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, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- VISA Power Limited - India
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