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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, 15 April 16
U.S WEEKLY COAL OUTPUT FALLS ACROSS ALL BASINS - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.2 million short tons (mm ...
Thursday, 14 April 16
DRY BULKERS' PRICES COULD BE HEADING UPWARDS AS BUYERS' APPETITE INCREASES - HELLENIC SHIPPING NEWS
Investment sentiment is beginning to trend upwards in the market for second hand dry bulk carriers. According to the latest weekly report from ship ...
Wednesday, 13 April 16
U.S COAL PRODUCTION IS EXPECTED TO DECREASE BY 16 PER CENT IN 2016; THE LARGEST ANNUAL PERCENTAGE DECLINE SINCE 1958 - EIA
EIA estimates that U.S. coal production in March 2016 was 52 million short tons (MMst), a 2 MMst (4%) decrease from the previous month and 29 MMst ...
Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mine ...
Tuesday, 12 April 16
NO FURTHER SIGNIFICANT COAL PRICE DECLINES IN THE FUTURE - FITCH
COALspot.com: Fitch does not expect further significant coal price declines because producers sector-wide are suffering losses while China and Indo ...
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- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Eastern Energy - Thailand
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