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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, 14 February 18
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
The second month of the year is traditionally a particularly interesting one for the shipping industry as a whole and even more importantly for the ...
Monday, 12 February 18
PANAMAX: WITH LIMITED FRESH ENQUIRY IN ALL AREAS, SPOT MARKET RATES DRIFTED LOWER THROUGHOUT THE WEEK - BALTIC BRIEFING
Capesize
A switch to the Atlantic with rates firming as charterers seemed keen to fix and tonnage was tight, prompting a recovery in rates. Trans ...
Monday, 12 February 18
WORLDWIDE: 'DEMURRAGE CLAIMS' FOR THE PURPOSES OF DOCUMENTARY TIME BARS
KNOWLEDGE TO ELEVATE
On 2 February 2018 the Commercial Court allowed an appeal from a decision of the Arbitration Tribunal in Lukoil Asia Paci ...
Saturday, 10 February 18
COAL INDIA ON PATH OF SUSTAINABLE PRODUCTION GROWTH AND SUPPLY TO POWER AND NON POWER SECTOR - PIB
Supply of 371.8 MT of Coal to Power Sector and 103.1 MT Coal to Non-Power Sector Achieved in 2017-18 Till January,2018 Average Rake Loading To The ...
Saturday, 10 February 18
OIL PRICE USD 100/BARREL BY END OF 2018! - SAROJ MOHAPATRA
All demand supplies calculations are going wrong in oil market at present. US production is increasing at a good pace and set to topple Saudi comfo ...
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Showing 1806 to 1810 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- London Commodity Brokers - England
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
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