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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, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
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- Heidelberg Cement - Germany
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Planning Commission, India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
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