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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, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
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- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- White Energy Company Limited
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
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