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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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Thursday, 01 January 15
FOB RICHARDS BAY COAL SWAPS CLOSED AT $63.47 PMT ON 26 DEC, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.37 (-4. ...
Wednesday, 31 December 14
COASTAL ENERGEN (C&O) COMMENCES 1ST UNIT OF 1200 MW POWER PLANT IN INDIA
COALspot.com: Coastal Energen, part of the Coal & Oil Group, announced last week the commissioning and commencement of power production at the ...
Wednesday, 31 December 14
SUB-BIT INDONESIA COAL Q2' 15 DELIVERY SWAP CLOSED 1.03% LOWER COMPARED TO AVERAGE Q1' 15 DELIVERY PRICE - SGX
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week.
The Q1 swap has lost US$ 1.35 (-2 ...
Tuesday, 30 December 14
SHIP PRICES KEEP ON FALLING, SALES COME EARLY FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship prices keep on falling on the back of low freight rates. According to the latest report from shipbroker Allied Shipbroking, January sales seem ...
Tuesday, 30 December 14
INDIA INC TO BENEFIT AS IMPORTED COAL PRICES SET TO FALL - RAHUL PRITHIANI
The Hindu: India‘s coal import volumes are set to rise by over 30 per cent over the next two years to 214 million tonnes in 2015-16, as domes ...
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- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- The University of Queensland
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Planning Commission, India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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