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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, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
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