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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, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Minerals Council of Australia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
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