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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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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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- Australian Coal Association
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- The University of Queensland
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
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