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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, 03 August 14
LACK OF COAL SHIPMENTS FROM FAR EAST/SE ASIA, THE PRESSURE ON CHARTER RATES CONTINUED THIS WEEK
COALspot.com: This week, the freight rates were almost flat as charter rates were also almost steady from last week.
The BDI was up by 2.59 pc ...
Friday, 01 August 14
UNCERTAINTY IN ASIAN COAL MARKETS WHERE INDEX-LINKED PRICING DOMINATES - SGX
COALspot.com: In the past 3 years, seaborne thermal coal markets have been in a state of constant oversupply.
Reuters expects this oversupply ...
Friday, 01 August 14
U.S PRODUCED 19.4 MMST OF COAL IN A WEEK, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Thursday, 31 July 14
CAPESIZE: CARGO VOLUMES, COAL IN PARTICULAR, PRESENTLY NOT SUFFICIENT TO EMPLOY A GROWING FLEET - FERNLEYS
Handy
Both the Atlantic and Pacific has improved in the supramax segment over the last week, said Fernleys in Its latest weekly report . There we ...
Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
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- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Electricity Authority, New Zealand
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- PTC India Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
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