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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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Thursday, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
Thursday, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
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- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- VISA Power Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
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