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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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Tuesday, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
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