The 2015 Energy Outlook Series: Coal

Coal has had a tumultuous 12 months but will 2015 be any better?

Coal prices declined steadily in the first months of 2014 in response to a combination of in-creased supply and lower import demand from China.

Australian benchmark contract prices for high-quality metallurgical coal settled at $US120 in the September quarter, a price that left many coal operations unprofitable.

Thermal coal fared even worse, with Newcastle free on board spot prices averaging US$73 a tonne in the first eight months of 2014, down 16 per cent year on year.

The price glut mean something had to give, and 2014 was the year the coal industry decided to restructure its workforce leading to massive job cuts.

Australian Mining estimates that more than 2500 jobs in the coal sector were cut as mining companies either downsized their operations or shut them down completely.

The Integra coal complex in the Hunter Valley was an early victim of coal’s fall from grace, as Vale announced in May that it would close the operation, taking 500 with it.

Isaac Plains in Central Queens-land also went into care and maintenance, with 300 jobs cut.

And in news that came as a shock to many, Glencore decided to close its coal operations for three weeks over Christmas.

The company said the move was a “considered management decision given the current over-supply situation”.

Glencore said this will reduce the need to push incremental sales in the weak commodity price environment.

And herein lies the problem with the coal price and its chance of recovering much-needed ground in 2015.

The Bureau of Resources and Energy Economics (BREE) said Australia exported 181 million tonnes in 2013-14 of metallurgical coal in 2013-14, with this expected to increase to 185 million tonnes in 2014-15.

While thermal coal exports are tipped to top 196 million tonnes in 2014-15.

However it’s the values that are important. Metallurgical coal is expected to remain steady at around $23.2 billion.

Thermal coal’s value is expected to decline by 9 per cent to $15.1 billion.

This is because there is an oversupply of both products on the world market, and countries like China are not willing to pay close to previous highs of $180 a tonne.

“Globally, production over-took demand in 2012-13, resulting in a strong drop-off in the world prices for steaming and coking coal,” IBISWorld explained.

Making matters worse for miners in Australia is the supply coming online from other competitors such as Indonesia, Colombia and South Africa.

At the same time, rising natural gas production in the United States means thermal coal will be diverted from domestic American markets, where it is used as an energy source, to export destinations.

This will all work to keep a lid on prices, especially if China can get a handle on its production capacity and costs.

IBISWorld said this means the focus on cost structures will continue, with wages and employment to come under pressure as the capital-intensive industry seeks additional productivity gains.

It said employment is expected to decline at a compound annual rate of 3.9 per cent over the next five years as other areas of the industry’s cost structure are less flexible.

Companies are also assessing their place in the market, the consultant firm said, with many mine stakes thought to be on the market and assets like Clermont coal mine in Queensland.

However, despite the gloom Australian producers who can restrain their costs are expected to remain competitive in the global market as the local currency continues to weaken against the U.S dollar.

BREE said a rapid price rise in coking coal prices was unlikely, and forecast the commodity to decline by 2.6 per cent to an average US$123 a tonne in 2015.

But there is an upside.

From 2016, the market balance is expected to tighten as China’s real estate sector begins to recover and a prolonged period of oversupply comes to an end through the closure of high-cost operations. The metallurgical coal contract price is projected to rise modestly to US$130 a tonne (in 2014 dollar terms) by 2019.

However thermal coal is expected to remain weak and decline by 6 per cent to settle at US$77 in 2015.

But exports of steaming coal to key markets in Asia are expected to expand over the next few years as new coal-fired power stations come onstream.

BREE said from 2016 the market balance is expected to tighten as more mines close and availability tightens.

This will result in contract prices rising to US$86 a tonne by 2019.

While the price rises are not dramatic, and are nowhere near the highs seen at the peak of the boom, they will work to ease a little pressure for mining companies.

Especially the ones making hard decisions now on how to remain viable until the upshot comes to fruition.

Chinese buyer for Leighton’s John Holland

A deal worth € 770 million (US$ 947 million) has been agreed by Hochtief subsidiary company Leighton Holdings for the sale of John Holland to CCCC International Holding.

The move to sell the Australian contractor to the financing arm of China Communications Construction Company comes amid a streamlining of Germany-based Hochtief’s wider business portfolio.

In October, the contractor made the decision to divest its offshore assets to marine engineering company GeoSea, as well as parting with its property companies Format and Aurelis.

The sale of John Holland is subject to approval by the Australian Foreign Investment Review. It would involve the transfer of 4,100 employees to the new business. As a result of the sale, Leighton’s annual revenues would be reduced by around € 2.5 billion (US$3.9 billion).

Marcelino Fernández Verdes, CEO of Hochtief and Leighton Holdings, said, “In June 2014 we announced that, as part of our strategic review we were analysing options for our services, property and John Holland businesses, including the potential divestment of, or introduction of new partners to, these businesses.

“The divestment of John Holland supports our focus on further reducing gearing and strengthening our balance sheet so that we can sustain competitiveness.”

Proceeds will also be used to finance future growth, particularly in public private partnerships.”

Mongolia's Biggest Foreign Investment The Oyu Tolgoi Mine

International contractor Leighton is selling its engineering subsidiary John Holland for $1.15 billion to Chinese company CCCC International Holding Ltd.

CCCI is a wholly-owned subsidiary of China Communications Construction Company (CCCC), the fourth largest construction company in the world by revenue, with a market cap of $A23.5 billion.

Leighton CEO Marcelino Fernández Verdes says the divestment of is part of the company’s strategic review initiatives to strengthen the balance sheet.

The money will be used to pay down debt.

The sale will mean a cut in Leighton’s annualised revenue of about $3.7 billion. About 4,100 employees, from almost 50,000 in the group, go with the business.

Leighton’s shares are trading up 1.38% to $22.00.

公司就收购澳大利亚John Holland 股权签订收购协议

2014-12-15

12月11日,中交国际在悉尼与澳大利亚礼顿集团(Leighton Holdings)正式签署股权购买协议,拟收购礼顿集团旗下John Holland公司100%的股权,收购对价为9.53亿澳元(折合人民币约48.82亿元),并计划于2015年3月底之前完成股权交割。 拟收购目标公司John Holland创立于1949年,总部在墨尔本,目前在澳大利亚建筑企业中位列三甲,在业界享有较高的声誉。该公司主要有三大业务板块,包括基建工程板块、特殊工程板块以及交通服务板块。John Holland拥有若干核心技术,主要包括铁路系统、隧道工程、水务及污水处理、环保工程、海洋工程及石油炼化基础设施等。值得一提的是,John Holland拥有澳大利亚最强大的铁路建设及营运管理能力,是澳大利亚唯一同时持有铁路运营和铁路基建管理执照的公司,可在澳大利亚全境开展相关业务。John Holland公司2013年度总收入为45.5亿澳元,目前在手未完成合同额约为 55.1亿澳元。 收购John Holland公司是母公司中国交建国际化经营发展战略中的重要举措。本次收购将为公司进入澳大利亚市场赢得实质性突破。澳大利亚政治、经济、社会环境良好,工程承包市场稳定增长,公司可借助John Holland在铁路、隧道、水务等领域的行业领先地位在澳大利亚市场占据一席之地。同时,预期John Holland公司将在多个业务领域与中国交建实现较强的协同效应,为公司开拓全球市场尤其是发达国家市场培育良机。 收购完成后,John Holland作为中国交建的子公司将保持其原有品牌,持续开展在澳大利亚或其他国家的业务运作,而中国交建也将适时为其提供战略、资金或技术等多方面的支持。 就本次收购工作,中交国际历经半年的时间,相继开展了全面深入的尽职调查,聘请国际权威的顾问团队,安排管理层会谈和现场考察,最终经过多轮的艰辛谈判,与卖方达成协议。待股权交割后,中国交建将完成继成功收购美国F&G公司后第二例跨国并购,从而为公司向世界一流跨国企业集团迈进奠定基石。

Downer’s Mining division

Downer’s Mining division has been successfully delivering contract mining and civil earthmoving services to an impressive list of global clients for over 90 years. It is now one of Australia’s leading diversified mining contractors, with around 3,500 employees working across more than 50 sites in Australia, New Zealand, Papua New Guinea, South America and Southern Africa (view our current operations map here).

We support our coal and metalliferous mining clients at all stages of the mining lifecycle, with a wide range of services including:

Open cut mining
Underground mining
Blasting services (through our subsidiary Downer Blasting Services), including explosives manufacture and supply
Exploration drilling
Crushing
Tyre management (through our subsidiary Otraco International)
Mobile plant maintenance
Mine planning and design
Construction of mine-related infrastructure
ReGen: rehabilitation and mine closure services
Indigenous training and development
Our current client base comprises a mix of local and international clients, including: Anglo American, AngloGold Ashanti, BHP Billiton, BMA Coal, Codelco, CrocGold, Debswana Diamond Company, EnergyAustralia, Fortescue Metals Group, Idemitsu Australia Resources, Jellinbah Group, Karara Mining, MMG, Newcrest, Ok Tedi Mining, Peabody Energy, Rio Tinto, Solid Energy, Stanwell Corporation, Swakop Uranium and Yancoal Australia.

While we pride ourselves on the excellence of our work, we recognise that it is also our industry-leading approach to sustainable development that gives us a competitive edge. For us, sustainable development means having an unwavering focus on Zero Harm and a commitment to environmental sustainability, as well as being a valued member of the minerals industry and of the communities in which we operate.

Our non-financial sustainability performance against key health, safety and environment (HSE) and social criteria is reported annually in our Sustainable Development Report. Each of our operations reports quarterly against these pre-determined metrics, a summary of which is provided in our annual Sustainable Development Scorecard.


Head Office
104 Melbourne Street
South Brisbane QLD 4101
AUSTRALIA
T: +61 (0)7 3026 6666
F: +61 (0)7 3026 6060

Sandvik and Downer join forces on service solutions for mining materials handling projects

Sandvik Mining Systems is partnering with Downer EDI Limited (Downer) to offer high-level field service and maintenance solutions for mining materials handling projects around Australia.
The memorandum of agreement (MOA) will enable Sandvik to engage Downer to carry out any maintenance work on Sandvik mining equipment operating on its customer sites, ensuring equipment is safely up and running in the shortest possible time to meet the client’s production targets.
Wayne Slight, Global Operations and Maintenance Manager, Sandvik Mining Systems explains that the agreement with Downer will allow the company to support their customers with a more extensive field service offering, which will enormously benefit their customers’ productivity and operations around Australia.
Observing that Sandvik has long been recognised as an OEM providing leading-edge products designed to the highest quality thanks to their 150-year legacy, Slight comments that the agreement with Downer will enable them to better service their customers with a more extensive field service offering.
Paul Gilbert, Bids & Contracts Manager for Downer described the MOA as a ‘best-fit’ solution for both organisations and their customers. Downer’s extensive history in the mining and construction industry has helped the company develop a strong level of product knowledge of Sandvik Mining Systems, and the necessary expertise to maintain them correctly.
Mr Gilbert adds that the agreement will allow them to carry out full servicing, repairs and maintenance on Sandvik mining systems, including working with on-site service crews, to ensure the equipment continues to operate safely, optimally and reliably.

Downer-Mining-Map-of-Operations_Aug2014

移动营销

今天,移动终端无疑已是蕴藏巨大市场潜力和诱人前景的营销阵地,移动营销的蔓延速度超出了任何人的预判。而仅在两年前,人们对移动终端还抱有观望态度,犹豫着到底该不该从广告预算里分一杯羹给移动平台。
近两年,各类移动终端让一切都加速了,移动营销的规模持续翻倍,2013年,75%的营销预算转移到了移动端,全球移动广告支出达180亿美元,连续3年以双倍以上的速度增长;移动端将销售量提高了318%;今后5年移动流量将增长10倍;70%的用户移动端搜索会带来立刻的行动…2014年这一趋势继续加剧,中国移动终端的市场规模将突破百亿大关。

大数据运用:颠覆传统产业链的运作

大数据常常被用作营销利器,销售数据比销售产品更能创造价值。大数据不仅能在营销端实现,也在供应端形成产业变革、颠覆传统产业链的运作。大数据未来的方向不在于数据挖掘技术本身,而在于数据应用的商业化,从数据背后挖掘盈利模式将成为关键。

IBM大数据与分析全面登陆企业级云端市场Cloud Marketplace

012月8日消息,IBM公司(NYSE: IBM)近期宣布:将在IBM企业级云端市场Cloud marketplace提供全面的大数据与分析能力,包括Cognos商业智能能力、SPSS预测分析平台和最新发布的Watson Analytics。IBM云端市场作为在线的云创新的数字前沿,将 IBM、合作伙伴及第三方的“功能即服务”集中起来,提供企业需要的安全性和灵活性。

众所周知,数据已经成为企业获得竞争优势的新基础,云计算则通过推动业务创新日益成为企业实现增长的引擎。根据权威调研机构Gartner的研究,到2016年,新增的业务分析中,将有25%通过订阅云平台或应用服务的方式实现部署。

通过将IBM行业领先的分析能力引入云端,企业、开发者和个人将能够以数据驱动的方式支持每一项商业决策。使用IBM Watson Analytics等基于云的分析服务,每个个人都将拥有强大的分析能力,让他们无需求助数据专家,即可实现分析趋势,获得洞察并提升各类决策;企业可以快速使用基于云的分析解决方案获得的洞察,帮助企业实时服务创新,提升企业业绩,有效管理风险;开发者则可以实现报告等分析服务在IBM领先的云应用平台Bluemix中的应用。

在2014年10月举办的IBM Insight 2014大会上,IBM业务分析总经理Alistair Rennie表示:“IBM致力于为每个用户提供领先的分析能力,我们相信今天发布的这些基于云的服务以及IBM强大的数据提炼能力将会为整个行业带来改变。”

除了实现将IBM大数据与分析能力广泛应用与企业的私有云和混合云环境中,IBM还发布了5种加速解决方案,旨在帮助数据专家加速应对当今企业面临的最显著、最广泛的挑战:

客户洞察解决方案:增强对客户的洞察,以支持销售、营销和客户服务;提升用户获得率和保有率,实现交叉销售。

运营洞察解决方案:增强对资产状况和设备性能的洞察,优化运营、服务和供给等环节;实现预测性维护,改善供需预测并提高流程效率

安全与欺诈洞解决方案:增强态势感知能力并识别潜在的异常情况,以便对安全、欺诈和数据安全威胁做出更快响应;完善情报功能及预警能力,以减少欺诈、犯罪和数据失窃

风险与合规性洞察解决方案:增强对潜在风险的洞察,以更好地管理金融风险、运营风险及合规性;优化资金运用,最大限度减少损失,降低合规性成本

数据仓库现代化项目:使组织机构能够采集和保存更多元的信息,以更低的成本增强其分析能力;同时加速获得企业中产生的信息

该计划将为客户提供预先集成的软件解决方案和行业专业技术支持,使各行业的企业能够整合5种不同类型的数据洞察,提高市场表现。

IBM Cognos商业智能将于2015年第一季度登陆IBM云端市场,IBM SPSS Modeler也将于30天内在该市场上架。IBM同时也发布了可帮助组织高效利用可靠数据的新一代的云端数据服务。

Sandvik to shift to India and China, close European, American operations

Sandvik has announced a geographical shift, moving its global mining facilities from Euorpe and North America to India and China.

Sandvik Mining’s head of emerging market, Kobus Malan told The Hindu’s BusinessLine the company is relocating a number of its global mining equipment facilities from the US and Europe to India and China as part of its wider business two year re-organisation plan.

“A number of factories in Europe and USA are to be closed down. They were acquired during the 10-year long mining super cycle when chasing orders were a priority,” Malan said.

The main focus of this shift is in the coal mining space.

A Sandvik spokesperson told Australian Mining that these mining facility shifts are unlikely to affect Australian operations.

该制造商为明年在中国市场中的增长确定的目标是20%的增长,主要是由粉碎与筛选板块所驱动。

山特维克建筑公司称,公司在中国的销售明年预期有20%的增长。该富有挑战性的目标是山特维克建筑的总裁高定贵在2014年上海宝马展期间宣布的,该展会将在2014年11月25日至28日举办。

公司称,尽管中国总体建筑市场“平缓”,公司坚信其在2015年将通过在关键板块的拓展而实现20%的增长。

这些板块包括粉碎与筛选,在这个领域内,山特维克认为,在中国,小型的公司将消亡,而大型公司将获得拓展,另外还有表层钻探。一个增长板块是移动粉碎,在该领域,公司预计将获得很大拓展,再加上建筑材料回收再利用板块的增长。

山特维克全球市场总裁Greg Albert称,“中国的市场当前十分平缓,不是很糟糕,只是很平缓。我们现在将其视为我们的新常态,并在探索在此种市场条件下增长的办法。我们期望为客户提供解决方案,而不仅仅是一件件设备。”

Leighton Contractors

Leighton Contractors is one of Australia’s most recognised and successful infrastructure companies. We have more than 14,000 people delivering projects and providing services to the construction, industrial, energy, health, telecommunications and services sectors.

Leighton Contractors is always interested in new sources of supply. Potential suppliers that wish to have goods or services evaluated/reviewed are requested to initiate contact by email providing a company brochure/ information package to

1800procure@leicon.com.au.

Please note that registration of an interest in supplying goods and services to Leighton Contractors does not constitute any status of approval. Leighton Contractors will typically invite your company to formally register an Expression of Interest (EOI) for specific projects or packages and undertake a ‘Pre-Qualification’ process prior to, or as part of the evaluation.

Thank you for your interest in partnering with Leighton Contractors.

出售:Callide and Dartbrook coal mines for sale as Anglo targets cost savings

Callide_1_300Anglo American’s Callide and Dartbrook coal mines are for sale as the miner announces a massive transformation that will see it shed 35 per cent of its workforce.

Chief of Anglo’s coal business Seamus French said the assets are “available for sale now,” in an investor presentation.

The company is also reviewing its coal operations in South Africa as part of the shakeup.

It comes as Anglo announced it would further reduce capital expenditure by $US500-800 million in 2014 and by up to $US1 billion in 2015 to $US5.2-5.5 billion.

By 2017 Anglo is targeting productivity to improve by 80%, with 35% fewer people, through growth and restructuring.

Chief executive of Anglo Mark Cutifani said the company had delivered on major commitments to shareholders.

The company said 71% of Anglo’s priority assets are now performing above plan versus just 21% in 2012.

It also said its coal unit costs in Australia had been cut by 21%, with longwall productivity up 120%.

2014 production guidance increased further for iron ore, met coal, thermal coal, copper and nickel, to enhance margins, Anglo said.

However Cutifani said further changes need to be made.

“We must be disciplined with our deployment of physical and financial resources to focus on those assets that will provide us with the greatest returns and potential upside,” he told investors.

“We are committed to maintaining a robust capital structure which balances long term business value growth with sustainable capital returns to shareholders.”

Anglo said due to falling commodity prices it will have to find an extra $US2 billion, on top of an earlier planned $US4 billion, to reach its 15% return on capital employed target for 2016.

“There is certainly no doubt that we don’t want to pull any punches,” Cutifani said.

“Prices are what they are. Our job is to adapt and continue to improve.

“We’re already outlining improvement programs two or three times more aggressive than our competitors. We’ve got to deliver what we said we’d do by 2016. That would mean 7 to 8% better than we were when we started.”

Anglo said its net debt is expected to peak in 2015 to between $US13.5 – 14 billion and said its dividend is expected to be funded by cashflow from 2016 onwards.

“Our revised operating model is delivering strong results and we are building on those foundations to complete the next phase of the transformation process in line with the strategic objectives for 2015,” Cutifani said.