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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, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Thai Mozambique Logistica
- PTC India Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
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