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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, 06 June 14
RICHARDS BAY COAL TERMINAL SHIPPED 4.221 MMT OF COAL TO SOUTHERN ASIAN COUNTRIES IN MAY
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.58 million tons ...
Thursday, 05 June 14
RBCT SOUTH AFRICA SHIPPED 21% LESS COAL IN APRIL COMPARED TO MARCH EXPORTS
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 5.45 million tons ...
Thursday, 05 June 14
PANAMAX : THIS WEEK STARTED IN A SLOW PACE - FEARNLEYS
Handy
After last week's silent and unexciting week we see some more activity this week, especially from the South American market. The rates ...
Thursday, 05 June 14
PORT OF NEWCASTLE SHIPPED 2.91 MMT OF COAL IN THIS PAST WEEK
COALspot.com: The figure constitutes a 4.30 percent higher compared to the previous week, following a week on week decreased of 19.13 percent recor ...
Wednesday, 04 June 14
SKULD: DIVERSIFICATION AND A ROBUST BOTTOM LINE
In February, I was delighted to ring in the new policy year with the Skuld team following a solid renewal round and a strong year. 2013 was, in man ...
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- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Anglo American - United Kingdom
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Indika Energy - Indonesia
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