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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Australian Coal Association
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