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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, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
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