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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, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Australian Coal Association
- Heidelberg Cement - Germany
- Planning Commission, India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
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