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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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Wednesday, 08 October 14
IS THERE ANY BRIGHT SIDE ON THE DRY BULK SEGMENT? - YANNIS OLZIERSKY
In the movie “Life Of Brian”, a character on a nearby cross was singing the famous “Always look on the bright side of life” ...
Tuesday, 07 October 14
TAIPOWER TO IMPORT 525K MT OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com: Taiwan Power Company intends to procure 525,000 metric tons of low ash and extra low sulfur sub-bituminous coal for Taipower thermal ...
Tuesday, 07 October 14
SUB-BIT FOB INDONESIA COAL SWAP SHOWS A FLAT TO WEAK TREND THIS PAST WEEK
COALspot.com: Indonesian coal swaps November 2014 delivery flat week on week and gained US$ 0.10 (-0.20%) per mt day on day. The swap also lost US$ ...
Tuesday, 07 October 14
THE RIO TINTO CONFIRMS THAT NO DISCUSSIONS ARE TAKING PLACE WITH GLENCORE
COALspot.com: The board of Rio Tinto notes the recent press speculation regarding a possible combination of Rio Tinto and Glencore.The Rio Tinto bo ...
Tuesday, 07 October 14
API 8 CFR SOUTH CHINA COAL SWAP HEADED SOUTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 1.10 (-1.64%) month over month and US$ 0.25 (-0.38%) ...
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- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- ICICI Bank Limited - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
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