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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, 21 March 17
DESPITE THE CHALLENGING MARKET SITUATION IN 2016 THE DELTA DUNIA MAKMUR HAS ACHIEVED A NET PROFIT OF US$37 MILLION
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the period ended December 31, 2016.
Despite challenging marke ...
Tuesday, 21 March 17
JAPAN'S RENEWED COMMITMENT TO COAL - BENJAMIN SPORTON
Japan is one of the largest economies in the world, and has long been a major consumer and importer of energy and a leader in energy technology dev ...
Monday, 20 March 17
IS THE DRY BULK INDUSTRY STILL ON TRACK FOR PROFITABILITY IN 2019? - PETER SAND
The industry remains well on target for profitable freight rates in 2019! This relies however, on the projected fleet supply growth rate of 0% in 2 ...
Friday, 17 March 17
U.S WEEKLY COAL OUTPUT VOLUME SLIDES 6.5 PERCENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ton ...
Thursday, 16 March 17
CHINA IMPOSING TOUGHER CONTROLS ON LOW-QUALITY COAL IMPORTS
China is ramping up controls on imports of low-quality coal due to concerns about smog and overcapacity in the world’s top coal consumer, a g ...
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- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Thai Mozambique Logistica
- Parliament of New Zealand
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- The University of Queensland
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Sojitz Corporation - Japan
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
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