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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, 04 November 14
FOB NEWCASTLE COAL SWAPS GAINED WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.09 (-1.99%) month over month and increased US$ 0.31 (+0.58% ...
Monday, 03 November 14
ADARO PRODUCED 41.90MT OF COAL FOR FIRST 9 MONTHS OF 2014
COALspot.com: Adaro’s coal production in the third quarter reached 14.03 Mt, a 2% increase compared to the same period of last year. Accordin ...
Monday, 03 November 14
CFR SOUTH CHINA COAL SWAP FOR Q4' 2014 DELIVERY LOST 2.80% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery has decreased US$ 1.86 (-2.80%) month over month and increased US$ 0.37 ( ...
Monday, 03 November 14
INDONESIAN'S COAL EXPORTS JUMP IN SEPTEMBER
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
Sunday, 02 November 14
CAPE INDEX WAS UP 46.65% WEEK ON WEEK
COALspot.com: The BDI and Cape index continued the strong upward trend this week. The BDI was up 19.80 pct and Cape index was up by 46.65 per ...
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- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Planning Commission, India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- London Commodity Brokers - England
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
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