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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, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
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- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Bhatia International Limited - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
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