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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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Tuesday, 15 March 16
ADARO ENERGY LOWERED ITS COAL CASH COST BY 16% TO US$ 27.98 PER TONE IN 2015
Difficult Coal Market Condition Persists in 2015, Adaro Lowers Costs, Reduces Capital Spending and Maintains Solid Liquidity.
PT Adaro E ...
Monday, 14 March 16
THE CS 50 INDEX ROSE $0.16 OR, 0.41% TO $38.82 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.41 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 14 March 16
THE BALTIC EXCHANGE CONTINUED TO ROSE THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rise this week helped by higher rates for pa ...
Saturday, 12 March 16
PLN, COAL COMPANIES IN TALKS ABOUT PRICES - THE JAKARTA POST
Following a study that predicted that Indonesia would struggle to provide coal for its power stations in the near future, the government will facil ...
Friday, 11 March 16
ADANI GLOBAL BAGS 0.26 MILLION TONS OF COAL CONTRACT FROM LANKA COAL COMPANY
COALspot.com: Lanka Coal Company (Private) Limited, Sri Lanka has awarded 260,000 +/- 10% tons of Power plant 6300 GAR calorific value coal to Adan ...
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- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- CNBM International Corporation - China
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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