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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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Wednesday, 30 May 18
HIGH PRICE, DMO ENCOURAGE COAL MINERS TO BOOST PRODUCTION - THE JAKARTA POST
A number of coal miners are planning to increase production by 10 percent in the second half of this year after a worldwide price increase.
Th ...
Wednesday, 30 May 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
Among several hot topics that will be discussed during the Posidonia week, the International Maritime Organization regulation that will be enforced ...
Tuesday, 29 May 18
BLOCKCHAIN CAN HAVE A TRANSFORMATIVE EFFECT ON THE SHIPPING INDUSTRY
KNOWLEDGE TO ELEVATE
Following the launch of a legal briefing on blockchain contracts from UK P&I Club, Claims Executive, Filip Koscieleck ...
Tuesday, 29 May 18
INDIA'S COAL IMPORT DECLINES IN APRIL AMID DIVERSION TO THERMAL POWER PLANTS - PTI
India’s coal import fell by 9 percent to 17.32 million tonnes (MT) in April on the back of ample supply of dry fuel from domestic sources.
...
Monday, 28 May 18
COAL SUPPLY DIVERSION IRKS INDUSTRIES DEPENDENT ON CAPTIVE POWER PLANTS - HINDU BUSINESS LINE
The government’s move to prioritise coal supplies to power plants with minimal coal stock has disrupted fuel supply to some sectors, which ha ...
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- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
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