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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, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
Friday, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
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- PTC India Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
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