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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, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
Monday, 31 October 16
INDONESIAN 5000 GAR COAL ROSE 5.56% WEEK OVER WEEK - CS COAL INDEX
COALspot.com: The price for thermal coal has recovered substantially since April 2016. The China’s new policy on its domestic coal miners, th ...
Friday, 28 October 16
STEAM COAL IMPORTS: CHINA AND INDIA'S ROLE REVERSALS - BEN TRIMMEL
While a sharp decline in European imports is a key driver of the expected fall in steam coal trade this year, China and India remain leading actors ...
Friday, 28 October 16
U.S. WEEKLY COAL OUTPUT ROSE DURING THE WEEK ENDING OCTOBER 22 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million short ton ...
Thursday, 27 October 16
73.08 PERCENT OF COAL PRODUCERS PREDICTED INDIA WILL NOT STOP COAL IMPORTS IN 2 TO 3 YEARS - POLL
COALspot released its weekly opinion poll "How likely do you think India will STOP thermal coal imports in 2-3 years?" this Monday.
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- McConnell Dowell - Australia
- Australian Coal Association
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
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