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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, 20 June 16
CS COAL INDICES CONTINUE UPWARD TREND SINCE END APRIL
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up again by 0.05 percent week over week to averaging $39.39 per ton this past we ...
Monday, 20 June 16
THE BDI HAS FELL 23 POINTS WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities declined this past week. The BDI was fell 3.77 percent fr ...
Friday, 17 June 16
CHINA'S NEW POLICY TO REDUCE WASTE IN RENEWABLE ENERGY - FITCH
Chinese renewable energy producers are likely to benefit from a new policy that guarantees a minimum amount of solar and wind power is purchased in ...
Friday, 17 June 16
KOMIPO INVITES BIDS FOR BITUMINOUS COAL FOR BORYEONG POWER PLANT
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 ...
Friday, 17 June 16
U.S WEEKLY COAL PRODUCTION UP 7.7% - EIA
COALspot.com – U.S., the world’s one of the largest coal producer has produced approximately totalled an estimated 12.9 million short t ...
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- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- White Energy Company Limited
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- PTC India Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Planning Commission, India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
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