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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, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Planning Commission, India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
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