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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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Wednesday, 21 January 15
SHIFT IN INTERNATIONAL COAL TRADE TO THE PACIFIC BASIN WILL CONTINUE - IMF
COALspot.com: The shift in international coal trade to the Pacific Basin will continue, IMF said in its latest Medium-Term Coal Market Report.
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Wednesday, 21 January 15
MARKET INSIGHT - VASSILIS LOGOTHETIS, INTERMODAL
The World Bank has lowered its forecast for global growth in 2015 to 3% down from its previous level of 3.4% amid rising concerns over the economic ...
Wednesday, 21 January 15
THERMAL COAL PRICE OUTLOOK DEPENDENT ON INDIAN IMPORT DEMAND - MATTHEW BOYLE, CRU
COALspot.com: Supply and demand side developments in India will be an important determinant of future market dynamics and prices for thermal coal a ...
Wednesday, 21 January 15
PORT OF NEWCASTLE COAL EXPORTS JUMP 16.19% ON MONTH TO 15.80 MIL MT IN DECEMBER' 14
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.136 billi ...
Tuesday, 20 January 15
INDIA TO SURPASS THE UNITED STATES AND BECOME THE SECOND-LARGEST COAL CONSUMER IN THE WORLD BY 2019 - IMF
COALspot.com: In 2013, coal added more primary energy than any other fuel and was the fastest-growing fossil fuel, enhancing its position as the se ...
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- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- White Energy Company Limited
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
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