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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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Tuesday, 05 May 15
FOB RICHARDS BAY COAL SWAPS MOVE NORTH THIS PAST WEEK
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 ...
Monday, 04 May 15
FOB NEWCASTLE COAL SWAP Q1'16 PRICES SLIGHTLY LOWER COMPARED TO Q3'15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 1.38 per MT (3.12%) month over month and US$ 0.93 week on week. ...
Monday, 04 May 15
Q1' 2016 CFR SOUTH CHINA THERMAL COAL SWAP CLOSED HIGH THAN 2015 DERIVATIVES
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.15 (-0.29%) per MT month over month and increased US$ 0.07 ...
Sunday, 03 May 15
DRY BULK INDICES WEAKEN SLIGHTLY THIS WEEK
COALspot.com: The freight market was flat to weak for the week starting from 27 April. The BDI was fell around 2.17% closed at 580 points.
...
Thursday, 30 April 15
IRON ORE EXPORTS: A DANGEROUS RACE? - CLARKSONS
The surge in iron ore exports in recent years has resulted in a significant decrease in iron ore spot prices, which dipped to a ten year low of bel ...
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- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
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