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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, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
Thursday, 18 June 15
MERCATOR'S KAMSARMAX FIXED WITH CLEARLAKE
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company focused on markets such as India, ...
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- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
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