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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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Thursday, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
Tuesday, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
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- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
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