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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, 06 August 14
SHIPPING MARKET INSIGHT - EVA TZIMA
Recent reports that Indonesia’s ban on exports of metal ore concentrates was lifted for the first time in six months for two of its biggest m ...
Wednesday, 06 August 14
SGX SUCCESSFULLY LAUNCHED NEW SGX COAL PRODUCTS
COALspot.com: Singapore Exchange (‘SGX’) has announced that, the exchange has successfully launched its new Coking and Thermal Coal pro ...
Monday, 04 August 14
ANNUAL SECOND HALF SURGE IN BRAZILIAN IRON ORE EXPORTS ABOUT TO BEGIN - JEFFREY LANDSBERG
COALspot.com: Great strength in the capesize market has all along been set to occur during the second half of this year, as that is when Brazilian ...
Monday, 04 August 14
SUB-BIT FOB INDONESIA COAL SWAP INCHES UP DESPITE LOW DEMAND
COALspot.com: Indonesian coal swaps for average Q4’ 2014 increased US$ 0.15 day on day and US$ 0.13 per mt week on week. But, the swap was lo ...
Monday, 04 August 14
Q1' 15 API 8 CFR SOUTH CHINA COAL SWAP CLOSED AT US$ 69.37 ON 1 AUGUST 2014; A $ 1.10 HIGHER COMPARED TO Q4' 2014 CLOSING
COALspot.com: Coal swap prices are showing a positive move upward this past week. API 8 CFR South China Coal swap for Q4, Q1 and Q2 2015 show ...
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- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Australian Coal Association
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
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