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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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Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Goldman Sachs - Singapore
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
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