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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, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Minerals Council of Australia
- The University of Queensland
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
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