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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, 07 March 18
WHEN AN IRRESISTIBLE FORCE MEETS AN IMMOVABLE OBJECT - GARD
KNOWLEDGE TO ELEVATE
Negotiable bills of lading are fundamental to trade. As documents of title, they are essential to the sale and carriage o ...
Wednesday, 07 March 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
The comparably small upside Handysize asset values have noted compared to other sizes since the historical lows of the dry bulk market in combinati ...
Tuesday, 06 March 18
FOREIGN INVESTORS ALLOWED TO BID FOR BIG MINING CONCESSIONS - THE JAKARTA POST
The government has allowed foreign investors to bid for mining concessions with a total area of more than 500 hectares, while smaller areas will be ...
Tuesday, 06 March 18
LNG VESSELS HAVE EMERGED AS THE FASTEST GROWING SEGMENT FOR THE WATERWAY - GERRY LATHROP
The day was July 25th 2016, a partly cloudy day on the Panama canal, and to most people a rather innocuous day without any real merit, however in s ...
Friday, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
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- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Economic Council, Georgia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Planning Commission, India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
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