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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, 17 February 15
Q2' FOB RICHARDS BAY COAL SWAP CLOSED AT $63.45; $ 1.85 HIGHER COMPARED TO Q4 CLOSING
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month, week on week and day on day.
The Q2 swap has ...
Monday, 16 February 15
COAL MINING SLUMP A BLESSING IN DISGUISE - THE JAKARTA POST
The growth of the coal-mining industry, which has diminished in the last two years, is expected to slump even further this year following weakening ...
Monday, 16 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK ON WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 1.31 per MT (+2.59%) week over week and US$ 4.35 (+9.13%) month on ...
Monday, 16 February 15
Q2' 15 - CFR SOUTH CHINA COAL SWAP ROSE 5.22% M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery rose US$ 2.88 (+5.22%) per MT month over month and US$ 1.08 (+1.90% ...
Sunday, 15 February 15
BALTIC DRY INDEX CONTINUALLY DIPPED IN RED
COALspot.com: The Baltic Dry Index continues its decline and fell 5.18 pct to 530 points week on week due to falling commodity prices and declining ...
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- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Australian Coal Association
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
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