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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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- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- White Energy Company Limited
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
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