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