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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, 30 March 16
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE METHODOLOGY TO DETERMINE THE SELLING PRICE OF COAL TO MINE-MOUTH POWER PLANTS
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) of Indonesia to review to revise methodology to determine the selling price of co ...
Wednesday, 30 March 16
VALEMAXES: THE BIGGEST NIGHTMARE OF TODAY'S DRY BULK MARKET - INTERMODAL
At a time that Europe is still dealing with the aftermath of the terrorist attacks in Brussels our society is daily bombarded with news of terroris ...
Tuesday, 29 March 16
BULK CARRIER VENTILATION - CAPTAIN PAUL R. WALTON
KNOWLEDGE TO ELEVATE
Moisture damage is a source of many cargo claims. Claimants allege that it is brought about by the ship’s failure t ...
Monday, 28 March 16
INDONESIAN WEEKLY CS50 COAL INDEX CLOSED SLIGHTLY FIRM; CS 57 INDEX CLOSED WEAK
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.03 percent week over week to averaging $38.91 per ton on this past Thursday, ...
Monday, 28 March 16
THE SUPRAMAX INDEX WAS UP TWENTY-FOUR POINTS TO 473 POINTS
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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- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
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