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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Planning Commission, India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Minerals Council of Australia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
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