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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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Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
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