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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, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
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