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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, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
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- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
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