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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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Tuesday, 16 September 14
INDONESIAN GOVERNMENT DECLARED HBA SUFFERED ANOTHER SETBACK IN SEPTEMBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in September. HBA for ...
Tuesday, 16 September 14
INDONESIAN COAL OUTPUT WON'T EXCEED 421M TONS: GOVT - JP
The government is optimistic that it will meet its coal production target for this year, which caps nationwide production at a flat number compared ...
Monday, 15 September 14
CHINA'S COAL PROPOSALS LEAVE SOME HOPE FOR EXPORTERS - DAILY NEWS
When the best thing you can say about new policies is that they aren’t as bad as they could have been, then you know your industry is in deep ...
Monday, 15 September 14
SUB-BIT FOB INDONESIA COAL SWAP, JANUARY 2015 DELIVERY GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average October 2014 increased US$ 0.40 (+0.78%) day on day and US$ 0.55 (+1.08%) per mt week on week. The ...
Monday, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
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- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- The University of Queensland
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
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