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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, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
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- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
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