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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, 16 March 15
API 5 FOB NEWCASTLE COAL SWAPS: DECLINED
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 2.48 per MT (-4.77%) month over month and US$ 0.93 (-1.84%) we ...
Monday, 16 March 15
CFR SOUTH CHINA THERMAL COAL SWAP DECLINED 3.74% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 2.17 (-3.74%) per MT month over month and US$ 0.67 (-1 ...
Sunday, 15 March 15
BDI DECLINED LESSER THAN 1% WEEK OVER WEEK; INDO-INDIA FIRM
COALspot.com: The most of indices, including bulk dry index were falling this week. The BDI has been down by just 0.53 points and closing at 562 po ...
Saturday, 14 March 15
CAPESIZE DRY BULKERS TO AVERAGE BETWEEN $3,000 AND $9,000/DAY IN THE COMING WEEKS SAYS BIMCO
BIMCO issued its latest short-term estimates for the dry bulk market. For March/May: BIMCO assesses that the Capesize time charter (T/C) average ra ...
Friday, 13 March 15
U.S. COAL PRODUCTION UP 2.3% WEEK OVER WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.5 million short tons (mmst) of coal ...
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- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Planning Commission, India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
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