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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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Friday, 15 January 16
FOB INDONESIA COAL SWAPS FIRM SLIGHTLY LAST WEEK
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month over month and week over week.
According to AsiaClear OTC coal swap's r ...
Friday, 15 January 16
SHIPPING: 2016 STARTED WITH MISERY ACROSS THE BOARD FOR SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As one would have expected, the dry bulk market starter the new year where it left off in 2015, plunging to never seen before depths, as the market ...
Friday, 15 January 16
U.S. WEEKLY COAL PRODUCTION ROSE ACROSS ALL BASINS: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 14 January 16
FOB RICHARDS BAY COAL SWAP FOR Q3 DELIVERY CLOSED $5.90 LOWER THAN Q1 PRICE
COALspot.com: Q1’ 2016 API4 FOB Richards Bay Coal swap up month over month and week over week.
The Q1’ 2016 FOB Richards Bay Coal ...
Wednesday, 13 January 16
U.S. COAL PRODUCTION DECLINED BY 109 MMST IN 2015; COAL EXPORTS DECREASED 21% Y-O-Y
COALspot.com: U.S. coal production declined by 109 million short tons (MMst) (11%) in 2015, the largest decline ever recorded, says EIA.
The 2 ...
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- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- The University of Queensland
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
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