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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, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
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- Bhatia International Limited - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
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