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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, 30 December 14
U.S WEEKLY COAL PRODUCTION ALMOST FLAT AT -0.2%
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Monday, 29 December 14
CHINESE COAL IMPORTS: REGULATORY RISKS? - CLARKSONS
In recent years, Chinese seaborne coal imports have surged, registering average growth of 67% p.a. between 2009 and 2013 to total 265mt. However, t ...
Monday, 29 December 14
BULK MARKET ENDS YEAR ON SOUR NOTE, SHIPBROKER SEES 'BUMPY ROAD AHEAD' - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2014 was supposed to be the year that the dry bulk market would stage a comeback and a sustainable one for that matter. However, while for the most ...
Monday, 29 December 14
Q1'15 CFR SOUTH CHINA COAL SWAP CLOSED AT $59.42
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.51 (-5.58%) month over month and US$ 0.08 (-0.13%) ...
Monday, 29 December 14
SGX'S FOB NEWCASTLE COAL SWAPS IMPROVED W-O-W, LOST M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.44 per MT (-2.73%) month over month and gained US$ 0.36 (+0.71%) ...
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- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
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