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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, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Minerals Council of Australia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
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