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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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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
Thursday, 26 April 18
COAL PRICES ARE EXPECTED TO AVERAGE $85/MT IN 2018, DOWN SLIGHTLY FROM 2017 - WORLD BANK
Coal prices rose 4 percent in the first quarter (q/q), following a surge of 34 percent in 2017, mainly due to strong consumption in China spurred b ...
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- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
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