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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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Tuesday, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Indian Energy Exchange, India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
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