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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, 31 October 14
BUKIT ASAM'S NET PROFIT ROSE 27.42% FOR THE PERIOD JANUARY - SEPTEMBER 2014
COALspot.com: Publicly listed coal miner Bukit Asam reported solid profits in the first nine months of 2014 year.
Coal miner Bukit Asam manage ...
Friday, 31 October 14
U.S PRODUCED AROUND 19.3 MMST OF COAL IN A WEEK
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 30 October 14
COAL & GRAINS SUPPORT PANAMAX AND IRON ORE SUPPORTS CAPES
Handy
The Atlantic market has been flat this week. Rates are up about US$ 200 from last week on the TA´s, but the volumes are about the sam ...
Thursday, 30 October 14
DOES A LOU ARBITRATION AGREEMENT FOR THE UNDERLYING CARGO CLAIM COMPLETELY REPLACE THE BILL OF LADING ARBITRATION CLAUSE? - INCE &CO
KNOWLEDGE TO ELEVATE
In the context of cargo claims brought under four bills of lading, the Commercial Court has recently considered whether a ...
Wednesday, 29 October 14
GOOD REASON WHY Q4 CAPESIZE OUTLOOK WAS SO BULLISH AT START OF THE YEAR - COMMODORE RESEARCH
COALspot.com: There was good reason why so many analysts' capesize outlook for Q4 was so very strong at the start of this year. Brazilian ...
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- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- The University of Queensland
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
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