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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, 08 April 16
COASTAL ENERGEN CROSSES GENERATION OF 1068 MW AND EXPORT OF 1004 MW FROM ITS 1200 MW IPP
COALspot.com: Coal & Oil (C&O) Group, an India centric Energy & Infrastructure company announced that their Coastal Energen' ...
Friday, 08 April 16
WEEKLY US COAL PRODUCTION ESTIMATES DIP 5.4% TO 11 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11 million short ...
Friday, 08 April 16
MINISTER OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO ISSUE REGULATION TO GUARANTEE THE COAL SUPPLY TO ITS 35K POWER PLANT PROJECTS
COALspot.com: In order to guarantee the supply of coal for 35,000 megawatt (mw) coal based power plants ( still in planning stage), the Minister of ...
Thursday, 07 April 16
CHINA STEEL CAPACITY CUTS FACE SOCIAL, FINANCIAL HURDLES - FITCH RATINGS
Fitch Ratings says today that the Chinese government's supply-side reform of the steel sector faces immense social and financial challenges. Th ...
Thursday, 07 April 16
PANAMAX RATES ARE FIRMING IN BOTH HEMISHEPHERES - FEARNLEYS
Capesize
With a great volume our of west Australia, rates were finally moving to upper 3's. and stabilizing towards the middle of the week in ...
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- ICICI Bank Limited - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- The University of Queensland
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
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