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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, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
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Showing 1741 to 1745 news of total 6871 |
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- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
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