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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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Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
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- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- The University of Queensland
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
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