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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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- London Commodity Brokers - England
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- The University of Queensland
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
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