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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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Sunday, 19 April 15
THE OCEAN FREIGHT MARKET SHOWED STEADY THIS WEEK
COALspot.com: The freight market was fairly steady this week. The BDI was up 2.93% to 597 points week over week. The cape index was also increased ...
Friday, 17 April 15
IHS ENERGY EUROPEAN COAL OUTLOOK CONFERENCE
Attend the IHS Energy European Coal Outlook Conference 19-20 May in Nice, France and learn about timely concerns in today’s coal industry.
...
Friday, 17 April 15
COAL PRODUCTION IN THE U.S. UP THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.0 million short ...
Thursday, 16 April 15
NEW COMMODITY SUPERHIGHWAY WILL EMERGE IN CHINA, ALTERING ENERGY TRADE FLOWS - WOOD MACKENZIE
Wood Mackenzie says that China’s Go West strategy – encouraging coastal to inland flow of capital and people - will result in the forma ...
Thursday, 16 April 15
SHIPPING DEMAND TO SUFFER AS CHINESE SLOWDOWN CONFIRMED SAYS BIMCO'S CHIEF SHIPPING ANALYST - BIMCO
The Chinese economy grew by 7.0% y-o-y in the first quarter of 2015, according to National Bureau of Statistics in China. This is the weakest overa ...
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- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- The University of Queensland
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Planning Commission, India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
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