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