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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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Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
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- Star Paper Mills Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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