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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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Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
Friday, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
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- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Australian Coal Association
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
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