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