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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, 14 April 15
SUB-BIT FOB INDONESIA COAL SWAPS FOR Q4 DELIVERY CRASHES THROUGH $44
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.25 (4.77%) ...
Monday, 13 April 15
Q2 FOB NEWCASTLE COAL SWAP CLOSED AT $45.28 PMT; DECLINED 7.50% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.67 per MT (-7.50%) month over month and US$ 0.39 week on wee ...
Monday, 13 April 15
Q4 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 50.97
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.50 (-8.05%) per MT month over month and US$ 0.12 (-0 ...
Sunday, 12 April 15
INDONESIA TO INDIA FREIGHT RATE IS EXPECTED TO BE SOFT
COALspot.com: The freight market was steady, however the BDI was declined slightly week over week.
BDI dropped 1.36 pct and closed at 580 poin ...
Friday, 10 April 15
US COAL PRODUCTION FELL 4.7% W-O-W : EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.4 million short ...
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- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Deloitte Consulting - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Parliament of New Zealand
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
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