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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, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
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