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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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Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the r ...
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- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
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