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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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Friday, 19 February 16
U.S. WEEKLY COAL PRODUCTION ROSE 2.6% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.2 million shor ...
Thursday, 18 February 16
INDIA NEEDS INTERNATIONAL SUPPORT ON HIGH EFFICIENCY COAL - WORLD COAL ASSOCIATION
Speaking at a conference in New Delhi today, World Coal Association Chief Executive Benjamin Sporton said the critical role of coal in driving econ ...
Thursday, 18 February 16
CHINA COAL SECTOR - 2015 RESULTS BLEAK, 2016 UNLIKELY TO BE ANY BETTER - FITCH
COALspot.com: China Coal Sector’s Financial Woes to Worsen in 2016.
Fitch Ratings says that the 2015 full-year result previews issued by ...
Thursday, 18 February 16
PANAMAX RATES OUT OF ECSA WERE STILL GAINING A PREMIUM OVER THE REST OF THE MARKET - INTERMODAL
The BDI moved further down last week, fact that hardly took anyone by surprise as the lunar year holidays in Asia on top of the already depre ...
Wednesday, 17 February 16
TAP ON OPPORTUNITIES IN GROWING ELECTRICITY DEMAND AND NEW COAL POWER PROJECT DEVELOPMENTS IN THE PHILIPPINES - IBC
Tap on Opportunities in Growing Electricity Demand and New Coal Power Project Developments in the Philippines
Coal Power Generation 2016
19- ...
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- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Minerals Council of Australia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
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