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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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Monday, 07 March 16
FREIGHT MARKET MOVING POSITIVE; ALL SEGMENTS EXCEPT CAPE SHOWING A FIRM TREND
COALspot.com: The freight market was steady this past week and showing a firm trend for all segments except for Cape index.
The Baltic Dry Ind ...
Friday, 04 March 16
GLOBAL ECONOMY'S JITTERS ARE SLOWING DOWN SHIPPING EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The global economy’s shaky condition to say the least is now hampering growth and as a result demand for shipping is slowing down, something ...
Friday, 04 March 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 109.3 MMST; 30.2% LOWER THAN THE COMPARABLE YEAR-TO-DATE COAL PRODUCTION IN 2015 - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 million shor ...
Thursday, 03 March 16
INDIA'S BUDGET NOT ENOUGH TO BOOST STEELMAKERS' PROFITABILITY - FITCH RATINGS
COALspot.com: Fitch Ratings says that increase in proposed infrastructure spending in India's latest government budget is unlikely to provide a ...
Thursday, 03 March 16
BDI FURTHER STRENGTHENING; THE INCREASE IN RATES WAS NOT SUBSTANTIAL
COALspot.com: The BDI closed off on a positive note for a second week in a row, further strengthening the belief that the market might be bottoming ...
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- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
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