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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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Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
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Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Australian Coal Association
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
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