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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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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- White Energy Company Limited
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Planning Commission, India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
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