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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Planning Commission, India
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
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