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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, 29 April 16
U.S. COAL IMPORTS IN Q4' 15 DECLINED TO 2.7 MMST FROM 3 MMST IN Q3' 15
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 10.3 million short tons (mm ...
Thursday, 28 April 16
PRICES OF POWER-STATION COAL IN INDONESIA IS INCREASING
COALspot.com: Inquiries for Indonesian 4200 - 4400 Kcal/kg GAR thermal coal cargoes from India suddenly increase recent days.
A Jakarta-based ...
Thursday, 28 April 16
KOMIPO TO IMPORT 710K MT OF BITUMINOUS COAL DURING JULY - SEPTEMBER 2016
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 710,000 Metric Tons of Bituminous Coal for its B ...
Thursday, 28 April 16
CAPE: BIT MORE OPTIMISM IN THE MARKET; SUPRAMAX: FORWARD CURVE IS FALLING - FEARNLEYS
Cape
A bit of a slower week. Activity level has dropped, though the rates do still remain firm, says Fearnleys in its latest weekly report.
...
Wednesday, 27 April 16
THE OCEAN SHIPPING EXPERIENCED DRAMATIC VOLATILITY IN THE BEGINNING OF 2016 - PANOS TSILINGIRIS
Shipping’s new (ab)normal
The global economy and ocean shipping experienced dramatic volatility in the beginning of 2016 and as the glob ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- The University of Queensland
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
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