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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, 28 May 18
KOMIPO ISSUED ANOTHER TENDER FOR 130K MT OF 5700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130,000 mt of min. 5700 NAR coal of Australian origi ...
Thursday, 24 May 18
SUPRAS FIXING AROUND USD 15000 FOR INDO TO CHINA COAL TRIPS - FEARNLEYS
Capesize
Both the physical and the paper market have dropped sharply the last couple of days on the back of a lack of fresh cargoes and a growing ...
Thursday, 24 May 18
FITCH: FALLING COAL INVESTMENT TO SUPPORT ASIAN PRICES
Press Release: The long-term outlook for the Asian thermal coal prices is improving, amid rising regional demand and falling mining investment, whi ...
Thursday, 24 May 18
BEIJING ORDERS UTILITIES, MINERS TO HELP COOL RED-HOT COAL MARKET: SOURCES - REUTERS
China’s state planner ordered utilities this week to stop stockpiling thermal coal and told miners to slash prices, two sources familiar with ...
Wednesday, 23 May 18
TANKER MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last six months we have seen more than 110 reported tanker transactions involving tonnage larger than 32k dwt and younger than 18 years old. ...
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- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
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