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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, 01 October 14
ASIAN THERMAL COAL PRICES TO REMAIN WEAK ON OVERSUPPLY - FITCH
COALspot.com: The thermal coal market in Asia will remain oversupplied in the next 12 months, in spite of on-going rationalisation of production, a ...
Wednesday, 01 October 14
PANAMAXES: DEFENSIVE, STRUGGLING TO KEEP ANY FURTHER DECREASES - INTERMODAL
COALspot.com: The Dry Bulk market seemed unable to shake off the trend of the week prior and the BDI remained on a downward slope for the bigger pa ...
Wednesday, 01 October 14
FITCH: GLOBAL ECONOMY FACES MULTI-SPEED RECOVERY, MULTIPLE RISKS
Fitch Ratings says in its latest Global Economic Outlook (GEO) that global growth will pick up in 2015 and 2016, but risks are weighted to the down ...
Tuesday, 30 September 14
COALVIEW TO PARTICIPATE AT MET COKE WORLD SUMMIT 2014 IN CHICAGO
COALspot.com: Coalview Ltd., LLC(“Coalview”) America's leading fully integrated coal technology and fine coal recovery company prov ...
Monday, 29 September 14
INDONESIAN COAL EXPORT VOLUME FALL IN AUGUST
COALspot.com: Indonesia, one of the world's largest coal producers and the global leading multi grade coal exporter shipped around $1.50 ...
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- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Australian Coal Association
- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Energy - Thailand
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- MS Steel International - UAE
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
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