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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, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
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