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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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Tuesday, 20 March 18
TRAFIGURA GROUP PTE LTD SIGNS RECORD US$5.725 BILLION EUROPEAN MULTICURRENCY SYNDICATED REVOLVING CREDIT FACILITIES AND JPY72.64 BILLION DENOMINATED THREE YEAR TERM LOAN
Press Release: Trafigura Group Pte Ltd. (“Trafigura” or the “Company”), a market leader in the global commodities industry, ...
Monday, 19 March 18
PANAMAX: DESPITE FEWER REPORTED PERIOD TRADES THIS WEEK, RATE LEVELS HAVE REMAINED SOLID - BALTIC BRIEFING
Capesize
There were finally reports of increased Brazil activity, but still largely unconfirmed. Vale reportedly took six ships Thursday for 5 Ap ...
Friday, 16 March 18
WEEKLY US COAL PRODUCTION DROPS 1.9 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.8 million short tons ...
Friday, 16 March 18
INDONESIA COAL PRICE CAP POSES LIMITED RISKS TO PRODUCERS : FITCH
Indonesia’s cap on the benchmark price of coal sold to the domestic electricity sector is unlikely to have a significant impact on the credit ...
Thursday, 15 March 18
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE PAYING IN THE LOW $13K TO S. CHINA AND HIGH $13K TO NORTH IN CHINA
Supramax
More activity from USG , front hauls to Far East have settled around $25000, and to Cont around $20000. Stable gain again in Black Sea w ...
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- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- MS Steel International - UAE
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Australian Coal Association
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
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