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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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Monday, 08 December 14
GOVERMENT TO WITHDRAW CNC STATUS OVER SUSPECTED FLAWS - THE JAKARTA POST
The Energy and Mineral Resources Ministry’s directorate general for mineral and coal plans to review the clean and clear (CnC) status held by ...
Monday, 08 December 14
FOB NEWCASTLE COAL SWAPS SLIP W-O-W AND M-O-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery closed at US$ 52.10 on 5 December after losing US$ 0.55 (-1.04%) month over ...
Sunday, 07 December 14
SUPRAMAX S8 ROUTE SLIGHTLY INCREASED WEEK ON WEEK
COALspot.com: The BDI continued its fall as cape index fell heavily week on week.
The BDI lost around14.83 pct within last five working day an ...
Saturday, 06 December 14
TANKER FLOATING STORAGE PLAYS COULD COME INTO PLAY IF VLCC RATES STAY AT CURRENT LEVEL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Contango: A phenomenon in commodities futures price curves where the delivery price of a futures contract is greater than the current price. With t ...
Saturday, 06 December 14
MUNDRA PORT MAKES HISTORY BY HANDLING THE LARGEST BULK CARRIER TO CALL ON WEST COAST OF INDIA
COALspot.com: Adani Ports & SEZ Ltd, India’s largest port developer and part of Adani Group, yesterday said its Mundra Port successf ...
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- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
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