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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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Sunday, 31 January 16
BDI CONTINUED ITS FALL AND CLOSE AT A FRESH RECORD LOW ON FRIDAY
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertilizer, continued it ...
Friday, 29 January 16
INDONESIAN BENCHMARK COAL PRICE SETTLES DOWN $ 0.31, OR 0.58%, AT $ 53.20 A TON
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further down in January 2016. HBA has slumped by 0.58 ...
Friday, 29 January 16
U.S. COAL PRODUCTION OFF 2 PERCENT FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.1 milli ...
Thursday, 28 January 16
COAL REMAINS THE NO.1 FUEL FOR POWER GENERATION - EXXONMOBIL
COALspot.com: Energy demand trends from 2010 to 2040 are expected to vary significantly around the world, as countries move along very different tr ...
Thursday, 28 January 16
WHAT ARE THE PROSPECTS FOR COAL IN LIGHT OF THE PARIS CLIMATE AGREEMENT? - GERMAN COAL IMPORTERS ASSOCIATION
This depends – says the VDKi – to a very great extent on who you want to believe more, the United Nations or the International Energy A ...
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- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- The University of Queensland
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
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