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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, 09 February 18
COAL BUYERS SPOOKED BY INDONESIA'S NEW SHIPPING RULES - ASSOC
Buyers of Indonesian coal are holding back orders of the fuel after the government issued new shipping rules for coal and crude palm oil that would ...
Thursday, 08 February 18
ENHANCED PRODUCTION BY COAL INDIA LIMITED HELPS DECLINE IN COAL IMPORTS - UNION MINISTER OF RAILWAYS AND COAL
According to press release from PIB, as per the current import policy, coal is kept under Open General License (OGL) and consumers are free to impo ...
Thursday, 08 February 18
A NEW WEEK WITH A SOFT SENTIMENT AND DECREASING RATES IN BOTH HEMISPHERE FOR THE PANAMAXES, SAYS FEARNLEYS
Supramax
USG dropping remarkably due to lack of fresh enquiry both for fhaul and bhaul, Supras were fixed from USG to Spore-Japan range now aroun ...
Wednesday, 07 February 18
INDONESIAN COAL PRICE REFERENCE RISES TO HIT THIRTEEN-MONTH HIGH OF $100.69 A TON
COALspot.com: The Indonesian Coal Price Reference (HBA) rose 5.39 per cent in February 2018, the latest ministerial decree showed.
The benchma ...
Wednesday, 07 February 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
Crude oil supply has been reported to have grown by approx. 2.5% reaching 40.1m bpd in 2017. However, tanker charter rates have been under pressure ...
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Showing 1811 to 1815 news of total 6871 |
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- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- PTC India Limited - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
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