Peabody’s domestic thermal coal sales down sharply in first quarter

first_imgPeabody’s domestic thermal coal sales down sharply in first quarter FacebookTwitterLinkedInEmailPrint分享Platts:Despite drops in coal shipments and revenues in the first quarter driven by multiple weather and market related disruptions compared to the year-ago quarter, Peabody Energy executives remain optimistic about future global demand and need for coal, particularly in the developing Southeast Asian countries.“In 2019, we expect retirements and gains by natural gas to continue to weigh on coal demand. CEO Glenn Kellow said. “On the other hand, strong seaborne pricing provides an outlet for US thermal exports.”Peabody’s total coal sales were 40.5 million [short tons (st)] in Q1, down 16.1% from Q1 2018, while revenues for the producer in the first quarter were $1.25 billion, down 14.4% from the year-ago quarter.Peabody’s total thermal operations sold 33.2 million st in Q1, down 18.6% from Q1 2018. Powder River Basin shipments were 25.3 million st, down 22% year over year given winter weather and flooding affecting rail performance.The producer’s Midwestern US operations shipped 4.2 million st, down 10.6% from the year-ago quarter, while its Western US operations sold 3.7 million st, flat from Q1 2018.Thermal sales projections for 2019 from the PRB are 105 million st-115 million st at an average price of $11.25/st, ILB of 17.5 million st-18.5 million st at an average price of $42/st and Western of 11 million st-12 million st.More: Peabody coal sales and revenues drop on year; global demand expected to remain strong: executiveslast_img

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