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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, 15 June 14
COAL FREIGHT RATES FALL FURTHER ON LACK OF DEMANDS - CAPT. REDDY
COALspot.com: The BDI softened this week as all segments fell this week. The Panamax sector being most affected. The Cape index was down 3.51 pct w ...
Friday, 13 June 14
US COAL PRODUCTION FELL 3% IN WEEK THAT ENDED JUNE 7, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 18.6 million short tons (mmst) of coal in a ...
Friday, 13 June 14
DRY BULK MARKET KEEPS ON FALLING, DESPITE RESPITE OF THE CAPESIZE SECTOR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on its lacklustre performance overall, with the Baltic Dry Index (BDI) still hovering below the 1,000 point mark. Yest ...
Thursday, 12 June 14
INDONESIA SETS HBA FOR MONTH OF JUNE AT US$ 73.64
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised up first time in last four months the coal bench mark price. ...
Thursday, 12 June 14
HANDY : TA MARKET IS CONTINUING SOUTH WITH A DECREASE OF 26% W-O-W
Handy
The week started off with holidays in most European countries and the TA market is continuing south with a decrease of 26% w-o-w. We do see ...
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- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
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