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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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Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
Sunday, 22 November 15
INDONESIA TO INDIA FREIGHT RATES TO REMAIN DULL NEXT WEEK
COALspot.com: The BDI was down to historical lows closing at 498 points which is down by almost 95.77 per cent compared to 11,800 points in 2008.
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- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Planning Commission, India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
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