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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, 07 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 528.1 MMST; DOWN 8.7% Y/Y - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 06 August 15
THE RATES FOR CAPES SHOOT UP LAST WEEK; GIVING THIS RECENT RALLY SOME MUCH NEEDED LEGS - INTERMODAL
COALspot.com: The Dry Bulk market noted another positive closing last week, entirely supported by Capesize performance, which managed to balance th ...
Thursday, 06 August 15
HARD COAL AND COKE IMPORTS TO GERMANY REACH NEW ALL-TIME HIGH OF 56.2M TONES IN 2014
Demand for German and imported hard coal In 2014, in 2014 fell by almost 8%, or 4.8m TCE, to 56.2m TCE.
According to German Coal Importer ...
Thursday, 06 August 15
SEABORNE WORLD TRADE IN STEAM COAL GROWS BY 3% YOY - GERMAN COAL IMPORTER ASSOCIATION
Global trade with hard coal, at 1,272m tones in 2014, increased by 35m tonnes or 3% in comparison with the previous year.
According to associa ...
Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
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- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Planning Commission, India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
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