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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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Thursday, 12 February 15
INDONESIAN COAL PRICE REFERENCE INCHED DOWN 1.44% IN FEBRUARY
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down Indonesian coal bench mark price this month to US$ 62.92 pe ...
Thursday, 12 February 15
NEWBUILDING ORDERING ACTIVITY DRAGS ON, AS OWNERS ARE LOOKING FOR LOWER PRICES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners appear to be waiting for lower prices in their dealings with Asian shipyards, as the dry bulk market is at historical lows. According t ...
Wednesday, 11 February 15
DRY BULK MARKET REMAINED UNDER PRESSURE : STABILIZING CAPE MARKET HARDLY HELPED SENTIMENT
COALspot.com: The Dry Bulk market remained under pressure last week, while the stabilizing Cape market hardly helped sentiment.
Greece based s ...
Wednesday, 11 February 15
BDI HITTING THE ALL-TIME LOW; FFA MARKETS NOT SHOWING ANY POSITIVE SIGNS
With the BDI hitting the all-time low and with FFA markets not showing any positive signs for a possible recovery in the near future, pessimism is ...
Tuesday, 10 February 15
IRON ORE MARKET TO REMAIN OVERSUPPLIED IN 2015: PRICE FORECAST $70/T - WOOD MACKENZIE
COALspot.com: With January witnessing the price of iron ore falling to its lowest levels since May 2009, Roger Emslie, Principal Metals & ...
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- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Australian Coal Association
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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