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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, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
Thursday, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
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- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
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