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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, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
Monday, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
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- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- CNBM International Corporation - China
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
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