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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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Monday, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
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- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
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