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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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Wednesday, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
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