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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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Monday, 23 March 15
SEABORNE WORLD COAL TRADE: GROWTH +5% - GERMAN COAL IMPORTER ASSOCIATION
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Sunday, 22 March 15
DRY BULK RATES CONTINUED TO RISE THIS WEEK
COALspot.com: The freight market was steady this week as all the segments increased after many weeks of weak trend.
The Baltic Dry Index (BDI) ...
Friday, 20 March 15
HARD COAL MARKET 2014: DESPITE THE ENERGY TURNAROUND, HARD COAL IMPORTS TO GERMANY RISE BY MORE THAN 6% (PART 1)
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Friday, 20 March 15
U.S. WEEKLY COAL PRODUCTION SHOWS 5.9% INCREASE WEEK OVER WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.5 million short tons (mmst) of coal ...
Thursday, 19 March 15
HANDY: INDO COAL CARGOS DESTINED FOR INDIA BEING FIXED IN REGION OF $ 7-8K - FEARNLEYS
Handy
The Handy and Supra market has had a week with mixed signals. Although we see more activity in both hemispheres the rates are only up about ...
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- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- VISA Power Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
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