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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, 23 February 15
Q2' CFR SOUTH CHINA COAL SWAP FOR Q2 ROSE 3.39% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 1.90 (+3.39%) per MT month over month and declined US$ 0.08 ...
Monday, 23 February 15
Q2' API 5 FOB NEWCASTLE COAL SWAP CLOSED $1 HIGHER THAN Q3
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 3.12 per MT (+6.44%) month over month and fall US$ 0.43 (-0.83%) w ...
Sunday, 22 February 15
THE BALTIC DRY INDEX LOST ALMOST 3.2% OR 17 POINTS WEEK ON WEEK
COALspot.com: The Baltic Dry Index, one of the economic indicators that monitors the health of the world's economy by tracking the price of shi ...
Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing de ...
Friday, 20 February 15
U.S. PRODUCED AROUND 19.2 MILLION SHORT TONS OF COAL WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.2 million short tons (mmst) of coal ...
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- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
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