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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, 15 October 14
NEWCASTLE SHIPPED 13.96 MILLION TONS OF COAL IN SEPTEMBER; UP 5.72%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,227.7 wor ...
Tuesday, 14 October 14
KING COAL UNDER ATTACK? - EVA TZIMA
With the last quarter of the year being well underway and with no strong signs that the Dry Bulk market could be ready for a big positive reversal, ...
Tuesday, 14 October 14
THE NEW CHINESE TRANSPORTATION TAX LAW: WHAT DOES IT MEAN FOR GREEK SHIPPING? - DELOITTE
China has recently promulgated a new law which imposes tax on profits from freights of inbound routes. The objective of the new tax law titled &ldq ...
Monday, 13 October 14
CHINESE COAL IMPORT TARIFFS YET ANOTHER BLOW TO AUSTRALIAN COAL EXPORTS - TIM BUCKLEY
COALspot.com: China’s unexpected move to reintroduce thermal coal import tariffs of 6% will have a materially negative impact on the viabilit ...
Monday, 13 October 14
NEWCASTLE COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT US$ 54.92, SGX DATA SHOWS
COALspot.com: API 5 FOB Newcastle Coal swap for delivery Q4' 2014 decreased US$ 0.80 (-1.46%) month over month and US$ 0.52 (-0.95%) week over ...
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- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- MS Steel International - UAE
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- The University of Queensland
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Trasteel International SA, Italy
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
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