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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, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
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- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
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