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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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Friday, 06 May 16
U.S. WEEKLY COAL PRODUCTION UP 9 PERCENT W/W; DOWN 35.3 PERCENT Y/Y - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.3 million short to ...
Thursday, 05 May 16
DRY BULK MARKET ON REVERSE MODE, AS HOLIDAYS AROUND THE WORLD HURT DEMAND - HELLENIC SHIPPING NEWS
The dry bulk market’s recent rally has been put on a temporary hold, as various holidays around the world have put a stop in it. In its lates ...
Wednesday, 04 May 16
COAL IMPORTS: A VOLATILE MATTER OR STILL POWERING DOWN? - CLARKSONS
Chinese coal imports decreased significantly in 2014-15, and so far in 2016 the pace of decline appears to have slowed, with imports even recording ...
Wednesday, 04 May 16
IS THE DRY BULK MARKET OUT OF THE WOODS YET, OR NOT? - HELLENIC SHIPPING NEWS
Things are beginning to brighten up in the beleaguered dry bulk market, which is riding on a multi-week rally to find itself around the “psyc ...
Wednesday, 04 May 16
POWER - WEEK: REAL EXAMPLES AND CASE STUDIES
POWER WEEK
7 - 11 November 2016, PARKROYAL on Beach Road Hotel, Singapore
www.power-week.com
Overview
Designed for the global e ...
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- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- PTC India Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- VISA Power Limited - India
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