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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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Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn c ...
Tuesday, 16 June 15
MERS: POTENTIAL CHARTERPARTY IMPLICATIONS - CLYDE & CO
KNOWLEDGE TO ELEVATE
South Korea's current outbreak of Middle East Respiratory Syndrome (MERS) has been the focus of much international at ...
Tuesday, 16 June 15
Q3 FOB INDONESIA COAL SWAP PRICE DOWN 50 CENTS OVER PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month but declined week over week, this past week.
The Q3 swap was clim ...
Tuesday, 16 June 15
FOB RICHARDS BAY COAL SWAPS: PRICES MOVED UP ON THE WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and week over week.
The Q3 swap was up US$ 1.70 ...
Monday, 15 June 15
API 5 FOB NEWCASTLE COAL SWAP: Q1'16 DELIVERY CLOSED 1.14% LOWER THAN Q4'15 DELIVERY PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 1.10 per MT (2.47%) month over month to US$ 45.67 per mt. The swap ...
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- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
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