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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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Monday, 15 December 14
CFR SOUTH CHINA COAL SWAP LOST $3.37 M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3,37 (-5.33%) month over month and US$ 1.58 (-2.57%) ...
Monday, 15 December 14
Q1' 15 FOB NEWCASTLE COAL SWAP CLOSED AT $ 51.45 ON 12 DEC
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.45 per MT (-2.74%) closed at US$ 51.45 on 12 December month over ...
Sunday, 14 December 14
FREIGHT RATES ARE EXPECTED TO BE SOFT NEXT WEEK
COALspot.com: The Baltic Dry Index (BDI), a measure of commodity-shipping costs, fell 12.12 pct to 863 points week ending 12 December 2014.
Th ...
Friday, 12 December 14
LIMITED TRADING AND AN OVERSUPPLY OF TONNAGE PUSHED HANDY SIZE SHIPS TO DOWN IN USG
Handy
We have seen the TA spot market come down this week lead by limited trading and an oversupply of tonnage in the USG, Fearnleys said in its ...
Friday, 12 December 14
U.S WEEKLY COAL PRODUCTION UP 3.4% W/E DECEMBER 6
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.6 million short tons (mmst) of coal ...
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- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Marubeni Corporation - India
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Australian Coal Association
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
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