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Thursday, 14 April 16
AUSTRALIAN MINING SERVICES SECTOR SQUEEZED BY MINERS' COST CUTS - FITCH RATINGS
 Fitch Ratings says mining services companies' revenues and margins will remain under pressure as miners continue to focus on reducing costs amid lower commodity prices.
Mining companies continue to move operations in-house, renegotiate service contracts to reduce value or scope, extend payment terms and limit further exploration as they seek to minimise costs and restore profitability. This directly impacts the work contracted to mining services companies, either squeezing margins, delaying cash inflows or reducing the pipeline of work available.
The decision last week by Fortescue Metals Group Limited not to renew its contract with Downer EDI Limited, as its moves to an owner-operator model at its Christmas Creek mines, highlights this trend. Fortescue had also reduced the scope of the contract in February 2015. In addition, Rio Tinto Ltd announced last week that it was extending its supplier payment terms to 90 days from 45 days for contracts greater than USD3m, and to 60 days for contracts under this threshold. Other solutions over the past year include Atlas Iron announcing a profit sharing arrangement linked to iron ore prices with its contractors to address the impact of price volatility on its returns.
Fitch expects mining service companies with limited operations outside the resources sector to be more affected by the mining companies' actions because they have fewer opportunities to replace lost revenues. Fitch downgraded Emeco Holding Limited's Issuer Default Rating by two notches to 'B-' in September 2015, which reflected the impact of the prolonged weakness in global commodity markets on its profitability, cash flows and scale. The recent insolvencies of Civil Australia Holdings and WDS Ltd. continue to highlight the increasing challenges smaller mining service companies face in this new environment.
Larger and more diversified engineering firms, such as Downer, are likely to be less affected by the miners' actions. Their exposure to other sectors, including infrastructure and civil sectors, allows them to mitigate any loss of mining services revenue.
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Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
Monday, 18 April 16
SOUTH KOREA STATE-OWNED UTILITY KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 70,000 Metric Tons of 4,600 kcal/kg NAR coal for ...
Monday, 18 April 16
SOUTH AFRICA RB1 COAL HAS LOST GROUND IN INDIA; RB2 MAY LOSE GRIP IF THE PRICE CROSSES US$ 50 A TON - TRADERS
COALspot.com: Indian coal consumers preferred to buy South Africa RB2 coal instead of RB1 coal recent months due to RB2's low CFR price level. ...
Monday, 18 April 16
CAPESIZE INDEX ROSE 44.66 PER CENT WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 15 April 16
PANAMAX MARKET CONTINUES TO FIRM - FEARNLEYS
Cape
It has been a positive freight market for the past few weeks, however, this week the market is taking a small breather, says Fearnleys in it ...
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- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
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