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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, 28 August 14
BANPU REPORTS HIGHER FIRST-HALF YEAR RESULTS FOR 2014
COALspot.com: Banpu Public Company Limited (BANPU) reports higher first half-year financial results for 2014 having its gross profit increasing 3 p ...
Wednesday, 27 August 14
FREIGHT MARKET: IS THE MARKET IN A RECOVERY MOOD? - GEORGE ILIOPOULOS
Is the market in a recovery mood?
August is typically a time when the shipping industry takes it easy… charter-ers book their requireme ...
Tuesday, 26 August 14
4TH ANNUAL ASIA NICKEL
4th Annual Asia Nickel
19-20 Nov 2014
Grand Hyatt Jakarta, Indonesia
Web Site
Asia’s Premier Nickel Conference
Regulation in ...
Tuesday, 26 August 14
DESPITE LOW DRY BULK RATES, BULKER PRICES ARE STILL HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, August tends to be a month of slow activity in the sale and purchasing market and this year has been no exception. However, as shipb ...
Tuesday, 26 August 14
GOVT ON TRACK TO LIMIT COAL OUTPUT - THE JAKARTA POST
The government has announced that it will proceed with plans to cap the production of coal next year, a move aimed not only at protecting the envir ...
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- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
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