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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, 26 June 18
"ALWAYS ACCESSIBLE": ARRIVAL, DEPARTURE OR BOTH? - INCE & CO
KNOWLEDGE TO ELEVATE
An “always accessible” berth warranty is often used by an owner to transfer the risk of delays in berthing to ...
Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despi ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
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- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Planning Commission, India
- Petron Corporation, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- GMR Energy Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
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