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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, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
Sunday, 08 June 14
DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
COALspot.com: Cape index increase pushes BDI index to 989 points week on week. The BDI firmed up by 5.88 pct and closed at 989 points week ended 6 ...
Saturday, 07 June 14
EVERYTHING CHANGES, AND NOTHING ABIDES - HERACLITUS
A couple of weeks ago, and while everyone was focusing on the struggling freight market, Russia and China made history by signing a three-decade lo ...
Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
In recent years a number of countries have introduced anti-corruption legislation which, unfortunately, fails to recognise the practical implicatio ...
Saturday, 07 June 14
U.S. MONTHLY COAL PRODUCTION SLIGHTLY HIGHER IN MAY 2014
COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
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- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- MS Steel International - UAE
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
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