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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, 27 November 15
FOB RICHARDS BAY COAL SWAPS UP FROM LAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up week over week and month over month.
The Q1’ 2016 swa ...
Thursday, 26 November 15
ITALY'S STEAM COAL IMPORTS EXPECTED TO REACH 16 MILLION TONS AND COKING COAL IMPORTS TO AMOUNT TO 4 MILLION TONS - ASSOCARBONI
ASSOCARBONI LOOKS AT COAL FROM A DIFFERENT ANGLE
- “Coal has made huge steps towards environmental sustainability, making itself t ...
Thursday, 26 November 15
DRY BULK MARKET WILL REBOUND EVENTUALLY, BUT THINGS WILL BECOME EVEN WORSE BEFORE THEY IMPROVE SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market’s benchmark, the Baltic Dry Index (BDI) reached an all-time late last week and has failed to rebound significantly eve ...
Thursday, 26 November 15
Q3'16 FOB NEWCASTLE COAL SWAP FALLS 27.5% SINCE 20 FEB 2015
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Wednesday, 25 November 15
INDIA'S POWER GENERATORS FACE LOW, FALLING UTILISATION RATE - FITCH
COAlspot.com: Fitch Ratings says in a new report that the utilisation rate of India's thermal power generation capacity continued to decline in ...
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- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
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