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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, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
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- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
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