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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, 18 December 15
CHINA GROWTH SHOCK TO HIT ENERGY, SHIPPING, STEEL MOST - FITCH
Energy, shipping and steel would be the hardest-hit sectors in Asia-Pacific (APAC) in the event of a sharp slowdown in Chinese growth, says Fitch R ...
Friday, 18 December 15
WEEKLY U.S. COAL PRODUCTION REMAINS FLAT ACROSS ALL BASINS
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 17 December 15
THE LOW DEMAND AND EXCESS COAL OUTPUT, KEEP THE FOB INDONESIA COAL SWAPS UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q1 2016 rose month on month and decline slightly week over week. For the week ended December 11, 20 ...
Thursday, 17 December 15
GLADSTONE PORT COAL RECORD LOOMING, EXPORTS UP 12% - GLADSTONE OBSERVER
COAL exports from Gladstone's port have taken a leap, with more than seven million tonnes leaving the wharves in November.
That increase i ...
Wednesday, 16 December 15
FOB RICHARDS BAY COAL SWAP SLUMP 5.5% FROM LAST MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 decline month over month and week over week.
The Q1’ 2016 &nbs ...
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- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
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