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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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Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
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- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- PTC India Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
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