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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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Friday, 18 July 14
3RD CHINA INTERNATIONAL SHALE GAS SUMMIT
Building on the massive success of the past 2 shale gas programs that has generated huge success by attracting 500+ industry players, and intrig ...
Friday, 18 July 14
US WEEKLY COAL PRODUCTION UP BY 1.4% TO 18.3 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 17 July 14
PANAMAX : MARKET HAS COOLED DOWN AGAIN TO LOW AND DEPRESSED LEVELS
Handy
The supra market remains pretty flat in the Atlantic while for the smaller sizes there has been little reported with ships chasing business ...
Thursday, 17 July 14
INDIAN GOVERNMENT WISE TO TAKE ADVANTAGE OF CURRENTLY LOW THERMAL COAL PRICES AND SHIPPING RATES - JEFFREY LANDSBERG
With thermal coal import prices (and also shipping rates) very low at present, India's government would be very wise to take advantage of curre ...
Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
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- Independent Power Producers Association of India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Minerals Council of Australia
- Economic Council, Georgia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
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