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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, 28 October 14
SGX'S FOB RICHARDS BAY COAL SWAP FOR DELIVERY Q1' 2015 CLOSED AT $ 68.07 ON 24 OCT
COALspot.com: API 4 FOB Richards Bay coal swap for Q4’ 2014 delivery decreased US$ 0.65 (-0.96%) month over month and increased US$ 1.79 (+2. ...
Tuesday, 28 October 14
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1' 15 DELIVERY CLOSED 3.68% LOWER MONTH ON MONTH
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week.
The swap has lost US ...
Monday, 27 October 14
GOVT PROMISES TO EASE LICENSING PROCEDURES IN MINING SECTOR - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to simplify the complicated licensing procedures i ...
Monday, 27 October 14
FOB NEWCASTLE COAL SWAP FOR Q1' 15 DELIVERY CLOSED $ 0.10 LESSER THAN Q4' 14 CLOSING OF $ 53.27 PMT
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2014 delivery decreased US$ 1.43 (-2.61%) month over month and increased US$ 0.05 (+0.09% ...
Monday, 27 October 14
CFR SOUTH CHINA COAL SWAPS PERFORMED POSITIVE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q4’ 2014 delivery decreased US$ 1.68 (-2.55%) month over month and increased US$ 0.87 (+1.3 ...
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- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Planning Commission, India
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
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