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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, 01 September 15
FOB RICHARDS BAY COAL SWAPS STILL SLIDING; Q2'16 DELIVERY LOST AROUND 6 PERCENT M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 gain week over week but declined month over month.
The 4Q swap was dow ...
Monday, 31 August 15
API 5 FOB NEWCASTLE COAL SWAP GAINS WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.85 per MT (-4.23%) month over month to US$ 41.87 per mt. The swap ...
Monday, 31 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP ENDS DOWN MORE THAN 4 PERCENT MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.91 (3.78%) per MT month over month.
A commodity ...
Sunday, 30 August 15
THE DRY BULK MARKET UNDOUBTEDLY REMAINS WEAK & VOLATILE THIS WEEK
COALspot.com: The BDI slipped further down this week, moving closer to 900 level. This week’s BDI falls 9.15 pct and closed at 903 points. Wh ...
Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
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- Australian Coal Association
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
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