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