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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, 29 September 14
INDONESIAN COAL SWAPS LOST WEEK ON WEEK AND MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for average November 2014 flat day on day and lost US$ 0.85 (-1.66%) per mt week on week. The swap also lost US ...
Monday, 29 September 14
CFR SOUTH CHINA COAL LOST AROUND 5% MONTH ON MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in November 2014 decreased US$ 3.55 (-5.10%) month over month and flat week over week.
...
Sunday, 28 September 14
FREIGHT RATES FROM INDONESIA TO INDIA IS EXPECTED TO BE FIRM NEXT WEEK - CAPT. REDDY
COALspot.com: The freight market shows a bit weak trend this week.
The BDI was lost 2.42% week on week and closed at 1049 points on 26 Se ...
Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the gover ...
Saturday, 27 September 14
OIL MARKET CONTANGO: SPECULATION ON FUTURE PRICES CAN BE A RISKY MOVE, EVEN FOR TANKER OWNERS HELLENIC SHIPPING NEWS
Despite the fact that tanker owners can easily use their vessels as floating storage units for oil, in a bid to exploit the current oil market dyna ...
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- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- MS Steel International - UAE
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- The University of Queensland
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Planning Commission, India
- Electricity Authority, New Zealand
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