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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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Thursday, 10 December 15
FOB RICHARDS BAY COAL Q3' 16 DELIVERY SWAP WAS CLOSED 7.27% PER TON LOWER COMPARED TO AVERAGE Q1' 16 DELIVERY PRICE
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
Wednesday, 09 December 15
U.S. COAL EXPORTS DECLINE IN 2015 DUE TO SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES - EIA
COALspot.com: The slower growth in world coal demand and lower international coal prices have contributed to a decline in U.S. coal exports in 2015 ...
Wednesday, 09 December 15
DRY BULK EXPERIENCES THE PERFECT STORM - PANOS TSILINGIRIS
Dry bulk experiences the perfect storm as the slowing of demand predominantly because of China sat atop the exaggerated oversupply. The BDI broke t ...
Tuesday, 08 December 15
OPEC'S DECISION BODES WELL FOR THE TANKER MARKET: STRONG MIDDLE EAST CRUDE EXPORTS WILL CONTINUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
OPEC’s latest decision to keep up oil production is seen by shipbrokers as a further boost for the tanker market. At the end of last year OPE ...
Tuesday, 08 December 15
Q1' 16 API 5 FOB NEWCASTLE COAL SWAP CLOSED AT $ 36.73 A TON; 1.73% HIGHER COMPARED TO Q3' 16 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $1.47 per ton (3.85%) month over month to US$ 36.73 per ton. The swap ...
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- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- White Energy Company Limited
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Economic Council, Georgia
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Australian Coal Association
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
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