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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, 27 January 15
Q1 FOB INDONESIA COAL SWAP CLOSED AT $ 47.87 FOR WEEK ENDING JAN. 23
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 gain week over week and declined month on month.
The Q1 swap has decline US$ 0.9 ...
Tuesday, 27 January 15
Q2 FOB NEWCASTLE COAL SWAP UP 4.5% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 0.28 per MT (-0.54%) month over month and increased US$ 1.23 ( ...
Monday, 26 January 15
OVERSUPPLY, AMPLE STOCKPILES, AND LACKLUSTER UNDERLYING STEEL DEMAND KEPT COKING COAL PRICES LOW IN 2014
COALspot.com: Coking coal prices (FOB & CFR) fell 15% and 18% respectively during the year, amidst persistent oversupply, ample inventory and s ...
Monday, 26 January 15
FOB RICHARDS BAY Q2 COAL SWAP CLOSED LOWER THAN Q1 CLOSING
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 fell ...
Monday, 26 January 15
API 8 CFR SOUTH CHINA COAL SWAP CONTINUE TO SLIDE M-O-M; ROSE W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 0.79 (-1.33%) per MT month over month and gained US$ 2.10&nb ...
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- Mercuria Energy - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
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