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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, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Australian Coal Association
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
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