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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, 10 November 14
Q4' 15 FOB INDONESIA COAL SWAP CLOSED LOWER THAN Q1' 15 CLOSING PRICE OF US$ 49.58 ON LAST FRIDAY
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, week on week and day on day.
The Q1 swap has lost just US$ ...
Monday, 10 November 14
SGX'S API 4 FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 65.44 ON 7 NOV, LOST 4.08% M-O-M
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has decreased US$ 2.78 (-4.08%) month over month and US$ 1.41 (-2.11%) w ...
Monday, 10 November 14
MOZAMBIQUE SIGNED CONTRACT WITH ETA STAR OF UAE FOR OPEN CAST COAL MINE IN TETE - AIM
- ETA Star to build slurry pipeline over the 600 kilometers to Beira in Mozambique to transport coal.
- The viability studies show the presence o ...
Monday, 10 November 14
YEAR 2015 CFR SOUTH CHINA COAL SWAP SHOWS A WEAK TREND THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased US$ 3.74 (-5.63%) month over month and US$ 2.19 (+3.37%) we ...
Sunday, 09 November 14
CAPE INDEX UP 3.06%; PANAMAX INDEX FELL 4.05%
COALspot.com: The BDI was almost at same levels compared to last week closing or just increased 0.77 pct from last week. The BDI was closed at 1437 ...
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- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
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