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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Australian Coal Association
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
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