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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, 09 September 14
PORT OF NEWCASTLE SHIPPED 13.207 MTN OF COAL IN AUGUST; TRADE VALUE AROUND $1.17 BILLION
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.17 billio ...
Monday, 08 September 14
SUB-BIT FOB INDONESIA COAL SWAP UNDERPERFORMED LAST WEEK
COALspot.com: Indonesian coal swaps for average October 2014 decreased US$ 0.20 (-0.39%) day on day and US$ 1.60 (-3.04%) per mt week on week. The ...
Monday, 08 September 14
API 8 CFR SOUTH CHINA COAL SWAP FOR DELIVERY JAN'15 CLOSED AT US$ 66.30 PMT W/E 5 SEPTEMBER 2014; LOST 5.15% M-O-M
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 0.15 (-0.23%) day on day and US$ 2.05 (-3.04%) week on wee ...
Monday, 08 September 14
CHINESE IRON ORE IMPORT DEMAND VERY STRONG - COMMODORE
COALspot.com: 30 dry bulk vessels were chartered in the spot iron ore market last week to haul iron ore import cargoes to Chinese buyers.
Acco ...
Sunday, 07 September 14
FREIGHT MARKET CONTINUED TO BE FIRM IN SPITE OF CAPE'S THIS WEEK'S WEAK PERFORMANCE
COALspot.com: BDI up by 0.7 pct week on week and closed at 1155 points this week. The Baltic Dry Index is a composite of three sub-indexes that mea ...
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- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Planning Commission, India
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- The University of Queensland
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
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