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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, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
Monday, 17 August 15
INDONESIAN THERMAL COAL REFERENCE PRICE HITS RECORD LOW AGAIN!
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.14 per MT fo ...
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- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
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