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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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Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
Wednesday, 13 July 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 15 MMST IN 2016 AND BY 4 MMST IN 2017
COALspot.com: U.S. coal production in June was 57 million short tons (MMst), a 6 MMst (13%) increase from May and 9 MMst (14%) lower than in June 2 ...
Wednesday, 13 July 16
2015 VS. 2016; THE DRY BULK DEMOLITION DERBY - JOHN N. COTZIAS
In the first half of the year 373 Bulkers and General Cargo ships were scrapped representing 23.8mil tons of dwt carrying capacity.
Comparing ...
Tuesday, 12 July 16
DUE TO LONG HOLIDAYS, CS COAL INDICES HELD AT THE SAME LEVEL OF THE PREVIOUS WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was flat week over week to averaging $39.98 per ton this past week.
Due to the ...
Monday, 11 July 16
COAL MARKETS SAW IMPROVED PRICES IN H1 2016 - SGX'S COMMODITIES MID-YEAR REFLECTION
COALspot.com: Coal
Coal markets saw improved prices in H1 2016 with the benchmark coking coal and thermal coal spot prices rising 18% and 25%, re ...
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- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Planning Commission, India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
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