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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, 19 November 15
Q3' 16 RICHARDS BAY COAL SWAP CLOSED 9% LOWER THAN Q1' 16 DELIVERY PRICE
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, 19 November 15
RATES FOR CAPES KEPT MOVING SOUTH - INTERMODAL
COALspot.com: With the BDI currently standing at less than 30 points above the historical lows marked in February this year and with activity acros ...
Wednesday, 18 November 15
MARKET (SHIPPING) INSIGHT - THEODORE NTALAKOS
Supply VS Demand
According to data from the IMF, global growth for 2015 is projected at 3.1 percent, 0.3 percentage point lower than in 2014, ...
Tuesday, 17 November 15
KOMIPO INVITES BIDS FOR (SEMI) ANTHRACITE COAL FOR SEOCHEON POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 70,000 Metric Tons of (Semi) Anthracite for Ja ...
Tuesday, 17 November 15
FOB NEWCASTLE COAL SWAPS FALL: Q1'16 SLID 11.45% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $4.75 per ton (11.45%) month over month to US$ 36.75 per ton. The swap ...
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- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Planning Commission, India
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Bhushan Steel Limited - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
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