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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, 22 May 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT AT 16 MMST
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.0 million short ...
Thursday, 21 May 15
PORT OF NEWCASTLE ACHIEVED ITS BEST EVER TOTAL COAL EXPORT TURNOVER OF 159 MILLION TONS IN 2014
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $900 million ...
Thursday, 21 May 15
ATLANTIC PANAMAX MARKET STARTED TO IMPROVE SLOWLY - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week on the green last week, purely on the back of improved Capesize performance, while the rest o ...
Wednesday, 20 May 15
LOWER PRICES SEEN IN NEWBUILDING MARKET ON LOW DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Cash-rich ship owners, or at least, owners with substantial access to financing will be among the prime candidates, who will reap the benefits of t ...
Wednesday, 20 May 15
TANKER MARKET INSIGHT - JOHN N. COTZIAS
Since Early October 2014 the tanker market has been experiencing a very positive momentum and has continued its strong performance so far in 2015. ...
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- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- The University of Queensland
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