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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, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
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- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Australian Coal Association
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- The University of Queensland
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
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