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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, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
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- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Australian Coal Association
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- PTC India Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
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