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