Babel Preset ENV issues

Good day:

I've just installed Babel Preset-ENV through NPM and getting this issue:

[nodemon] starting `babel-node server.js server.js`
/home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:328
        throw e;
        ^

TypeError: Cannot read property 'loose' of undefined (While processing preset: "/home/vagrant/api/node_modules/@babel/preset-env/lib/index.js")
    at _default (/home/vagrant/api/node_modules/@babel/plugin-transform-modules-commonjs/lib/index.js:19:22)
    at Function.memoisePluginContainer (/home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:113:13)
    at Function.normalisePlugin (/home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:146:32)
    at /home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:184:30
    at Array.map (native)
    at Function.normalisePlugins (/home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:158:20)
    at OptionManager.mergeOptions (/home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:234:36)
    at /home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:265:14
    at /home/vagrant/api/node_modules/babel-core/lib/transformation/file/options/option-manager.js:323:22
    at Array.map (native)

My Package.JSON is the following:

{
  "name": "api",
  "version": "1.0.0",
  "description": "",
  "main": "index.js",
  "scripts": {
    "test": "echo \"Error: no test specified\" && exit 1",
    "start": "nodemon -L server.js --ignore 'db/schema.json' --exec babel-node server.js"
  },
  "author": "",
  "license": "ISC",
  "dependencies": {
    "@babel/core": "^7.0.0-beta.32",
    "@babel/preset-env": "^7.0.0-beta.32",
    "babel-core": "^6.26.0",
    "express": "^4.16.2",
    "express-graphql": "^0.6.11",
    "express-oauth-server": "^2.0.0",
    "graphql": "^0.11.7",
    "jsonwebtoken": "^8.1.0",
    "mongo": "^0.1.0",
    "mongoose": "^4.13.2",
    "password-hash": "^1.2.2",
    "react-relay": "^1.4.1"
  },
  "devDependencies": {
    "babel-cli": "^6.26.0"
  }
}

And also my .babelrc is this:

vagrant@vagrant-ubuntu-trusty-64:~/api$ cat .babelrc 
{
  "presets": [
    ["@babel/preset-env", {
      "targets": {
        "node": "current"
      }
    }]
  ]
}

Before the upgrade I was using stage-0 and es2015 presets that were working however, after the upgrade this has been buggy. Note, my NPM version is 4.6.1.

Thanks.