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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, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
Monday, 07 May 18
SOUTH KOREA STATE-OWNED UTILITY KOREA MIDLAND POWER ISSUED A TENDER FOR 1 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 mt of min. 5700 NAR coal of Australian origi ...
Monday, 07 May 18
GLOBAL COAL DEMAND ROSE ABOUT 1% IN 2017; ASIA ACCOUNTED FOR THE LARGEST INCREASE IN COAL DEMAND, UP 35 MTOE RELATIVE TO 2016 - IEA
Global coal demand rose about 1% in 2017, reversing the declining trend seen over the last two years. This growth was mainly due to demand in Asia, ...
Friday, 04 May 18
ELECTRICITY GENERATION FROM RENEWABLES WAS SECOND ONLY TO COAL IN 2017 - IEA
World electricity demand increased by 3.1 %, significantly higher than the overall increase in energy demand. Together, China and India accounted f ...
Thursday, 03 May 18
SUPRAMAX: INDO - CHINA COAL ROUNDS ARE PAYING IN THE LOW-MID $12000 BSS SINGAPORE DELIVERY - FEARNLEYS
Supramax
As expected a slow and uneventful start to the week with holidays in many countries, however by mid-week some fresh requirements and pos ...
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- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
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