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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, 02 March 18
ANGLO AMERICAN COMPLETES SALE OF ESKOM-TIED THERMAL COAL OPERATIONS IN SOUTH AFRICA
Anglo American plc (“Anglo American”) confirms completion of the sale of its Eskom-tied domestic thermal coal operations in South Afric ...
Friday, 02 March 18
MORE COAL INQUIRES FROM SOUTH AFRICA TO INDIA; SUPRAS FIXED CA $12K + BB - FEARNLEYS
Supramax
Better rates in Atlantic, but not too busy market just yet.
Black Sea catched improving rates for grain cargoes, where supras to Eg ...
Friday, 02 March 18
U.S. WEEKLY COAL PRODUCTION DOWN 2.7 PER CENT W/E 24 FEB, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Wednesday, 28 February 18
INDIA: TEPID COAL TRAFFIC TO HIT VOLUME GROWTH AT PORTS TILL 2022 - PTI
Cargo growth at the country’s major ports is all set to moderate to 3-5 per cent per annum over the next five years due to the “sedate ...
Wednesday, 28 February 18
MARKET INSIGHT - LINOS KOGEVINAS
US Shale production continues to grow rapidly, hitting new records and with projections being revised upwardly at every turn. According to the Inte ...
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- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
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