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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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Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
Wednesday, 12 August 15
FOB NEWCASTLE COAL SWAP FLAT WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 0.98 per MT (-2.20%) month over month to US$ 43.65 per mt. The swap ...
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- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
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