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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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Tuesday, 19 January 16
HAPPY NEW YEAR, COAL PRODUCERS! OR MAYBE NOT - ANDY ROBERTS
To coal producers, 2015 must have seemed far longer than 365 days. From their perspective, as bad as markets were at the beginning of the year, and ...
Tuesday, 19 January 16
COALTRANS ASIA IS RETURNING TO BALI
22nd Coaltrans Asia
Coaltrans Asia is returning to Bali to bring together over 1000 industry decision makers and thought leaders for three day ...
Monday, 18 January 16
INDONESIAN 5700 GAR COAL INDEX ROSE 0.60% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline slightly week over week to averaging $39.93 per ton on this past Friday, acc ...
Monday, 18 January 16
BALTIC DRY SHIPPING INDEX DROPS TO 373 POINTS; DECLINE 13% WEEK OVER WEEK
COALspot.com: The freight market dropped this week as the BDI declined further 13 percent to 373 points week over week. The Cape index ...
Monday, 18 January 16
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 42.50 PER TON; UP 1% MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.43 (1.02%) per ton month over month.
A commodity swap is ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- PTC India Limited - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
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