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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, 10 February 15
SUB-BIT FOB INDONESIA COAL SWAP ADVANCES 3.79% WEEK ON WEEK
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 0.85 (+1.81%) month o ...
Tuesday, 10 February 15
FOB NEWCASTLE COAL SWAPS SURGE WEEK OVER WEEK, RAISING HOPES?
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery rose US$ 0.95 per MT (+1.91%) week over week and declined US$ 0.06 (-0.12%) ...
Monday, 09 February 15
AUSTRALIAN COAL PRODUCERS BEST POSITIONED IN OVERSUPPLIED MARKET; US MINES MOST AT RISK - WOOD MACKENZIE
In a 2015 global coal outlook report, Wood Mackenzie says that Australia and Indonesian coal suppliers will see some upside in the difficult months ...
Monday, 09 February 15
FOB RICHARDS BAY COAL SWAP GAINS 3.65% TO ONE-MONTH HIGH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 surge month over month and day on day.
The Q2 swap has soared US$ 2.1 ...
Monday, 09 February 15
Q2' CFR SOUTH CHINA COAL SWAP DECLINED 3.28% TO $ 56.92 W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 1.93 (-3.28%) per MT month over month and US$ 0.10 (-0 ...
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- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- PTC India Limited - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- ASAPP Information Group - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
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