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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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Wednesday, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
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