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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, 11 April 16
ON THE TIGHTROPE, IT CAN BE HARD TO KEEP YOUR BALANCE.... - CLARKSONS
Today’s headlines often point towards the impact of the demand side on the state of health of the shipping markets. But despite the fact that ...
Monday, 11 April 16
WEEKLY CS (I) COAL INDEX FOR 5700 GAR COAL UP 0.03 CENTS, OR ABOUT 0.06 PERCENT, TO $48.21 A TON
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.15 percent week over week to averaging $38.82 per ton on this past Friday, ac ...
Monday, 11 April 16
COAL IS NOT THE ENEMY TO FIGHT - ANDREA CLAVARINO, ASSOCARBONI
COALspot.com: “Coal is not the enemy to fight and electricity production from coal has an environmental impact in its lifecycle similar to na ...
Monday, 11 April 16
FORTY INDIAN COAL IMPORTERS UNDER THE DRI SCANNER FOR OVER-INVOICING : HINDU BUSINESS LINE
The Finance Ministry and the Directorate of Revenue Intelligence (DRI) of India are said to have stepped up investigations into the alleged over-in ...
Monday, 11 April 16
BDI ROSE TO ITS HIGHEST LEVEL IN FOUR MONTHS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
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- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Marubeni Corporation - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
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