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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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Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
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