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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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Monday, 25 August 14
4TH ANNUAL FLOATING TERMINALS
4th Annual Floating Terminals
18-20 Nov 2014
Intercontinental Jakarta Midplaza,
Indonesia
Web Site
The Floating Terminal c ...
Monday, 25 August 14
THE BALTIC DRY IS JUMPING, BUT DON'T DRAW ANY BROAD CONCLUSIONS - NASDAQ
Those who consistently preach doom and gloom and see an economic apocalypse around every corner would make me laugh if it weren’t for the fac ...
Monday, 25 August 14
COAL CEOS: DEMISE OF COAL 'EXAGGERATED' - MARK WILCOX
By Mark Wilcox
Heads of some of the largest coal companies in Wyoming are saying the demise of coal has been exaggerated, though the industry def ...
Monday, 25 August 14
INDO COAL SWAPS W-O-W: NEGATIVE; M-O-M: POSITIVE
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.28%) day on day and US$ 0.65 (-1.19%) per mt week on week. Th ...
Monday, 25 August 14
API 8 CFR SOUTH CHINA COAL SWAP GAINED DAY OVER DAY AND MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for delivery in September 2014 increased US$ 0.30 (+0.44%) day on day and decreased US$ 0.20 (- ...
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- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- The University of Queensland
- Ind-Barath Power Infra Limited - India
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