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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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Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
Thursday, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
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- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Planning Commission, India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
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