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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, 24 November 14
CHOPPY WATERS IN DRY BULK - SGX
COALspot.com: Dry bulk freight rates have experienced a sharp rise in volatility in recent weeks as bulk commodity supply has ramped up, said SGX i ...
Monday, 24 November 14
Q1 2015 FOB NEWCASTLE COAL SWAP CLOSED AT $ 52.73
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.73 on 21 November after losing US$ 0.40 (-0.75%) month ove ...
Monday, 24 November 14
CFR SOUTH CHINA COAL: Q2' 15 COAL SWAPS CLOSED LOWER COMPARED TO Q1' 15 SWAPS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 0.63 (-0.99%) month over month and US$ 0.12 (-0.19%) da ...
Sunday, 23 November 14
SPOT FREIGHT RATES IMPROVED SLIGHTLY OVER PREVIOUS WEEK
COALspot.com: The BDI was up 5.41 pct week on week and closed at 1,324 points on Friday. All the segments were up this week except Panamax index.&n ...
Sunday, 23 November 14
ITALY'S STEAM COAL IMPORTS TO DROP BY 11% IN 2014 - ASSOCARBONI
COALspot.com: Italy’s steam coal imports expected to drop to 16 million tons in 2014 (-11% compared to 2013); coking coal imports to plunge t ...
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- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Australian Coal Association
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Agrawal Coal Company - India
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