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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, 06 December 15
DESPITE TEMPTING NEWBUILDING PRICES, CONTRACTING IN DRY BULK REMAINS LOW - BIMCO
The current newbuilding prices for dry bulk ships has dropped so much that they just passed the lows of 2012 heading downwards and are now at the l ...
Friday, 04 December 15
FOB INDONESIA COAL SWAPS ARE ALMOST FLAT OVER WEAK DEMAND
COALspot.com: Indonesian coal swaps for delivery Q1 2016 declined month on month and rose slightly week over week. Coal prices seen very margi ...
Friday, 04 December 15
COAL PRODUCTION IN THE U.S. FOR W/E NOVEMBER 28TH FELL SLIGHTLY FROM THE PREVIOUS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 15.0 million shor ...
Friday, 04 December 15
MINING OUTLOOK WEAKENS FURTHER ON FALLING CHINESE DEMAND - FITCH
COALspot.com: Fitch Ratings' outlook for the global mining sector in 2016 is firmly negative, reflecting our view that Chinese demand will cont ...
Thursday, 03 December 15
DRY BULK: THERMAL COAL LOWER USAGE UNDER A POTENTIAL NEW CLIMATE DEAL WILL ADVERSELY IMPACT THE MARKET'S RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In direct contrast to the tanker market, the dry bulk one has seen demand for key commodities, such a coal, dwindling down over the course of the p ...
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- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
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