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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, 20 January 15
INDONESIAN COAL OUTPUT SEEN RISING, DESPITE FALL IN ITS PRICE
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week, but Indonesian Coal Output Seen Rising. T ...
Tuesday, 20 January 15
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY DECLINED 2.83% M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery declined US$ 1.45 per MT (-2.83%) month over month and US$ 0.50 (-0.99%) we ...
Monday, 19 January 15
HBA FALL TO FRESH LOWS; COAL OVERSUPPLY WILL CONTINUE TO PUSH PRICE DOWN
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 63.84. T ...
Monday, 19 January 15
CFR SOUTH CHINA COAL SWAPS REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery declined US$ 3.37 (-5.63%) per MT month over month and US$ 0.74 (-1.29%) ...
Monday, 19 January 15
FOB RICHARDS BAY COAL SWAP FOR Q4 DELIVERY CLOSED 4% LOWER THAN Q1 DELIVERY PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q1' 2015 declined month over month and week over week.
The Q1 swap has f ...
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- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Dalmia Cement Bharat India
- The University of Queensland
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
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