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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, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
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