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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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Wednesday, 04 February 15
MARKET INSIGHT - LINOS KOGEVINAS
It has been just about over 2 months since, in a move that surprised many and caused widespread apprehension, OPEC decided to maintain its producti ...
Tuesday, 03 February 15
Q1'15 FOB INDONESIA COAL SWAP CLOSED $ 3.29 HIGHER COMPARED TO Q4'15 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 rose week over week and month on month.
The Q1 swap up US$ 0.68 (+1.41%) month o ...
Tuesday, 03 February 15
FOB NEWCASTLE COAL SWAP FOR Q4 DELIVERY CLOSED 5.86% LOWER THAN Q1 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery rose US$ 0.26 per MT (+0.51%) week over week and declined US$ 0.02 (-0.04%) ...
Monday, 02 February 15
API 4 FOB RICHARDS BAY COAL SWAP ROSE WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and day on day.
The Q1 swap has decli ...
Monday, 02 February 15
INDONESIA'S ADARO ENERGY PRODUCED 56.21 MILLION TONNES OF COAL IN 2014; UP 8% Y-O-Y
COALspot.com: PT. Adaro Energy, Indonesia’s largest coal producer, has increased coal production by 8% to 56.21 million tonnes (Mt) from both ...
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- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- New Zealand Coal & Carbon
- The University of Queensland
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Romanian Commodities Exchange
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