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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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Thursday, 25 September 14
LACK OF COAL BUSINESS PUSHING DOWN PANAMAX EARNINGS IN PACIFIC
Handy
In the Atlantic we see rates steady climbing upwards. More coal cargoes out of USG and USEC are helping the TA market which is up some USD ...
Wednesday, 24 September 14
ADARO AGREED TO REDUCE ITS CONCESSION AREA TO 31,379.8 HECTARES
COALspot.com: PT Adaro Energy Tbk (Adaro Energy) today announced that, PT Adaro Indonesia (AI), its wholly owned subsidiary, entered into a M ...
Wednesday, 24 September 14
CAPESIZE: ACTIVITY IN BOTH BASINS WAS UNIMPRESSIVE
COALspot.com: The end of the week prior seems to have marked the tone for the days that followed, with the Dry Bulk market giving up a significant ...
Tuesday, 23 September 14
MEDCO TO INCREASE ITS COAL PRODUCTION NEXT YEAR
COALspot.com: PT Medco Energi Internasional is looking to increase its coal production next year, supported by the launch of operations at its Duta ...
Monday, 22 September 14
COAL SECTOR CHAOS - GENESIS TO REVELATION - DIPESH DIPU
COALspot.com: “Let there be light”, intends the government of India but the fuel side of the story paints a blackout. The recent Suprem ...
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- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Planning Commission, India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
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