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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, 02 December 14
FOB RICHARDS BAY COAL SWAPS LOST MONTH OVER MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month, week on week and day over day.
The Q1 swap has lost U ...
Tuesday, 02 December 14
SUB-BIT FOB INDONESIA COAL Q1' 15 DELIVERY SWAP CLOSED AT US$ 49.50
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$ 0.4 ...
Monday, 01 December 14
SGX'S FOB NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 52.50
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.50 on 28 November after losing US$ 1.20 (-2.23%) month ove ...
Monday, 01 December 14
Q2' 15 DELIVERY CFR SOUTH CHINA COAL SWAP CLOSED 0.42% LOWER THAN Q1' 15 DELIVERY CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 2.45 (-3.78%) month over month and US$ 0.67 (-1.06%) we ...
Sunday, 30 November 14
SUPRAMAX COAL FREIGHT RATES FROM INDONESIA TO INDIA : FIRM
COALspot.com: The BDI fell 171 points and closed at 1153 points on Friday 28 November 2014. The Cape index also lost 887 points and closed at 2151 ...
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- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
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