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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Deloitte Consulting - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
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