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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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Tuesday, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Parliament of New Zealand
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
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