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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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Wednesday, 23 December 15
FOB NEWCASTLE COAL SWAP CLOSES FIRM
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery up $0.45 per ton (1.22%) month over month to US$ 37.20 per ton. The swap wa ...
Tuesday, 22 December 15
3800 GAR INDEX CLOSED AT US$ 22.03 PER TON; DOWN 0.15% W-O-W
COALspot.com: The 5000 GAR CS (i) coal index decline US$ 0.03 per ton (-0.07 %) week over week.
According to the CS (i) coal (system generated ...
Monday, 21 December 15
Q3' 2016 CFR SOUTH CHINA COAL SWAP CLOSED SLIGHTLY LOWER COMPARE TO Q1'16 CLOSING PRICE
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery up US$ 0.20 (0.48%) per ton month over month.
A commodity swap is a ...
Sunday, 20 December 15
THE FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The BDI facing all time low's this week. The bulk dry index closed at 477 points on 18 December 2015.
The cape index was als ...
Friday, 18 December 15
WHEN IS A MASTER ENTITLED TO REFUSE DAMAGED CARGO? A REMINDER - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
A master’s authority to clause bills of lading issued by or on his behalf can sometimes become the cause of disagreeme ...
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- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
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