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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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Friday, 22 January 16
WEEKLY US COAL PRODUCTION ESTIMATES ALMOST FLAT
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.3 million shor ...
Friday, 22 January 16
COAL PRICES TO REMAIN UNDER PRESSURE THIS YEAR
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week. The falling trend of prices for coal was continuing ...
Friday, 22 January 16
Q3' 16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 40.80; DECLINE $ 2.80 M-O-M
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and decline week over week.
The Q1’ 2016 FOB Richards B ...
Wednesday, 20 January 16
Q3'16 FOB NEWCASTLE COAL SWAP CLOSED $ 2.40 LESSER THAN Q1'16 CLOSING PRICE OF $ 38.10
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery rose another $0.77 per ton (2.06%) this past week compared to the sam ...
Wednesday, 20 January 16
SHIPPING MARKET INSIGHT - NASOS SOULAKIS
If you believe in the “January effect”, the theory according to which the beginning of a new year has a positive effect on financial in ...
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- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
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