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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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Wednesday, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Planning Commission, India
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Bhatia International Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- White Energy Company Limited
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
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