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