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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, 16 December 14
THIS PRICE IS A STEAL - EVA TZIMA
COALspot.com: Despite concerns that the slowdown of the Chinese economy would affect imports of iron ore, it seems that this has not been the case ...
Tuesday, 16 December 14
FOB RICHARDS BAY COAL SWAP FOR Q2' 15 DELIVERY CLOSED AT US$ 65.60 PMT
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 0.18 (-0.27%) month on month ...
Tuesday, 16 December 14
SUB-BIT FOB INDONESIA COAL SWAP CONTINUES ITS FALL
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week over week and day on day.
The Q1 swap has lost US$ 1.7 ...
Monday, 15 December 14
WILL TANKERS BENEFIT FROM REEMERGENCE OF FLOATING STORAGE PLAYS? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market has been seeing high freight rates for some time now, riding on the back of low oil prices, which are boosting demand from develo ...
Monday, 15 December 14
INDONESIAN COAL PRICE REFERENCE CRASHES THROUGH $65
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in December. HBA for t ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
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