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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, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Eastern Coal Council - USA
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
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