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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, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
Tuesday, 23 June 15
Q3 FOB INDONESIA COAL SWAP FALL $1.12 IN ONE MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
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- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- White Energy Company Limited
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
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