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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, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
Monday, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
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- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
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