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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, 02 February 15
API 8 CFR SOUTH CHINA COAL SWAP PICKS UP W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.81 (-1.36%) per MT month over month and gained US$ 0.18&nb ...
Monday, 02 February 15
SOUTH KOREA'S KOMIPO INVITES BIDS FOR 280K MT OF SUB-BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 280,000 MT of Sub-bituminous coal coa ...
Sunday, 01 February 15
INDONESIA-TO-INDIA COAL FREIGHT RATES REMAIN WEAK NEXT WEEK
COALspot.com: The BDI continued its fall reached lowest levels since 1986 this week.
The BDI declined 15.55 pct to 608 points on Friday 30, Ja ...
Friday, 30 January 15
CONTANGO AND TANKERS - SKULD
KNOWLEDGE TO ELEVATE
Like an invitation to a dance, the word contango may have some people flustered, but for tanker owners this market phenome ...
Friday, 30 January 15
U.S. YEAR-TO-DATE COAL PRODUCTION REACHED 65.7 MMST
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.9 million short tons (mmst) of coal ...
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- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
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