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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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Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
Tuesday, 09 September 14
WEAK M&A DESPITE ABUNDANT DISTRESSED INDONESIA COAL ASSETS - FITCH RATINGS
COALspot.com: Fitch Ratings says that a meaningful level of merger and acquisition (M&A) activity leading to a consolidation of the coal sector ...
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- PTC India Limited - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
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