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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, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
Tuesday, 02 August 16
INDONESIAN CS COAL INDICES STAY POSITIVE
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.71% week over week to averaging $41.12 per ton this past week, shows CS (i) C ...
Monday, 01 August 16
4200 GAR INDONESIAN COAL PRICE MAY TOUCH $ 32/33 A TON LEVELS SOON
COALspot.com: Indonesian coal prices are likely surge further in 2016 as the recent price movement in Indonesian coal markets suggests that the mar ...
Monday, 01 August 16
BALTIC INDEX ENDED NEGATIVE NOTE THIS PAST WEEK ON WEAKER RATES ACROSS ALL LARGE VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape, Panamax and Supramax segments end ...
Friday, 29 July 16
U.S. COAL OUTPUT SLIPS SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 15 million short tons ( ...
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- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
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