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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, 21 April 15
SUB-BIT FOB INDONESIA COAL SWAP: GAINED W-O-W; DECLINED M-O-M
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week and declined month on month.
The Q2 swap was declined US$ 1.75 ( ...
Tuesday, 21 April 15
FOB RICHARDS BAY COAL SWAP MOVE UP SLIGHTLY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased slightly month over month.
The Q2 swap has increased US$ 0.2 ...
Monday, 20 April 15
BUKIT ASAM TAKES OVER STAKE IN JV FROM RAJAWALI - JP
State-owned coal miner PT Bukit Asam (PTBA) announced Friday that it had taken over almost the entire stake in a joint venture (JV) that it created ...
Monday, 20 April 15
FOB NEWCASTLE COAL SWAP GAINED WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.54 per MT (-7.21%) month over month and gained US$ 0.30 week ...
Monday, 20 April 15
Q4' 2015 API 8 CFR SOUTH CHINA COAL SWAP CLOSED US$ 50.28 PMT
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.03 (-7.28%) per MT month over month and US$ 0.05 (-0 ...
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- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Videocon Industries ltd - India
- White Energy Company Limited
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
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