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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Planning Commission, India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Australian Coal Association
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
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