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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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Friday, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
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 fell US$ ...
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- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
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