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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, 03 February 17
KOMIPO INVITES BIDS FOR 1.13 MILLION TONS OF BITUMINOUS COAL FOR Q2' 17
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 1,130,000 Metric Tons of Bituminous coal f ...
Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
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- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
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