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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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Saturday, 24 February 18
CHINA BECOMES WORLD'S SECOND LARGEST LNG IMPORTER, BEHIND JAPAN - EIA
China surpassed South Korea to become the world’s second-largest importer of liquefied natural gas (LNG) in 2017, according to data from IHS ...
Friday, 23 February 18
ESTIMATED U.S. WEEKLY COAL PRODUCTION UP 2.8 PER CENT W/E 17 FEB' 18 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tons ...
Thursday, 22 February 18
WHY THE COMMODITY RALLY WILL GET BACK ON TRACK - SIMON FLOWERS
Implications for the US dollar and producers
Are we in the early stages of a sustained rise in commodity prices? And what does it mean for the ...
Thursday, 22 February 18
PANAMAX: IT HAS BEEN A SLOW AND UNEVENTFUL WEEK - FEARNLEYS
Supramax
Slight improvement from Atlantic with more hope for upcoming weeks. More grain cargoes from Black Sea made fhaul rates better again $17- ...
Wednesday, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
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- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Medco Energi Mining Internasional
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