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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, 03 March 15
Q4' FOB INDONESIA COAL SWAP CLOSED 2% LOWER COMPARED TO Q2 CLOSING PRICE OF $ 47.47
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose month on month and declined week over week.
The Q2 swap increased US$ 2.24 ...
Tuesday, 03 March 15
FOB RICHARDS BAY COAL SWAPS: Q2 UP 9.60%; Q3 UP 9.75% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and week on week.
The Q2 swap has soared US$ 5 ...
Monday, 02 March 15
CFR SOUTH CHINA COAL SWAP FOR Q2 DELIVERY REACHED $ 57.50 PMT W/E 27 FEB 2015
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.37 (+2.44%) per MT month over month and declined US$ 0.42 ...
Monday, 02 March 15
BORYEONG POWER PLANT OF KOMIPO TO IMPORT 140K OF SUB-BITUMINOUS COAL FOR Q2
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 140,000 (70 ...
Monday, 02 March 15
FOB NEWCASTLE COAL SWAP ROSE 6.89% MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.35 per MT (+6.89%) month over month and US$ 0.40 (0.78%) week on ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- PTC India Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- White Energy Company Limited
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
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