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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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Friday, 18 May 18
AFTER COAL, INDONESIAN GOVERNMENT PUSHES DMO ON GAS FOR ELECTRICITY
After introducing its domestic market obligation (DMO) policy for coal on March 12, the government is going forward with its plan to introduce a DM ...
Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
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- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Planning Commission, India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
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