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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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- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Australian Coal Association
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- The University of Queensland
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
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