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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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Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
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