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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, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- The University of Queensland
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
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