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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, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- PTC India Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
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