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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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Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
Friday, 07 February 20
CIL LOOKING TO TAP NON-POWER SECTORS FOR INCREMENTAL COAL, PTI REPORTED
The miner is looking to ramp up production to meet its targets for the current fiscal at a time when the economic slowdown is impacting demand for ...
Friday, 07 February 20
VIRUS - HIT CHINA MAY NEED MORE IMPORTS OF COAL. NOW COMES THE TRICKY PART - SHIPPING IT THERE: REUTERS
China’s domestic coal mines are struggling to ramp up production in the face of the ongoing coronavirus epidemic. That’s a situation th ...
Friday, 07 February 20
CORONAVIRUS IMPACTING THE GLOBAL SHIPPING INDUSTRY - BIMCO
The outbreak of the novel Coronavirus has dented market sentiment and spooked markets around the globe. When China sneezes, we all catch the flu. T ...
Thursday, 06 February 20
CAPE: WEAK SUPPLY/DEMAND RATIO THE STREETS REMAIN BLOODY FOR THE BIG SHIPS - FEARNLEYS
Cape: With still a weak supply/demand ratio the streets remain bloody for the big ships, and actual spot earnings are close to zero on main short-h ...
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- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- VISA Power Limited - India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Planning Commission, India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
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