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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, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
Tuesday, 27 February 18
SHELL SEES POTENTIAL LNG SUPPLY SHORTAGE AS GLOBAL DEMAND SURGES
Media Release: The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 ...
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- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Medco Energi Mining Internasional
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Edison Trading Spa - Italy
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