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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, 01 June 15
API 5 FOB NEWCASTLE COAL SWAP; Q1'16 CLOSED LOWER COMPARED TO Q3'15
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.36 per MT (0.80%) month over month. The swap was closed at US$ ...
Monday, 01 June 15
CFR SOUTH CHINA COAL SWAP: GAINED W-W, M-M; Q1'16 CLOSED HIGHER THAN Q3'15
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery up US$ 1.15 (2.26%) per MT month over month.
A commodity swap is a f ...
Sunday, 31 May 15
CAPE AND PANAMAX SEGMENTS SLIDE CONTINUES
COALspot.com: The BDI was up about 0.5 pct week on week and closed at 589 points while the cape index was fell 0.73 pct and closed at 810 po ...
Friday, 29 May 15
DRY BULK MARKET IS THE VICTIM OF A SHIFT IN DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The fall in dry bulk freight rates is attributed, in large part, to the substantial decrease of China’s thermal coal imports, a major commodi ...
Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
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- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
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