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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, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Parliament of New Zealand
- PTC India Limited - India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- White Energy Company Limited
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- The University of Queensland
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
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