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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Planning Commission, India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
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