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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, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- The University of Queensland
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Minerals Council of Australia
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
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