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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, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
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- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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