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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 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- Trasteel International SA, Italy
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
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