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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, 15 August 16
THE SPOT FREIGHT MARKET STRENGTHEN OVER THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose as Cape and Panamax segments ending in a positive no ...
Friday, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
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- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
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