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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, 11 August 19
ULTRAMAX: A 58,000DWT VESSEL OPEN KEMAMAN FIXED FOR TWO TO THREE LADEN LEGS, REDELIVERY SINGAPORE-JAPAN, AT $12,250 - BALTIC BRIEFING
Capesize
With typhoon Lekima gathering pace, numerous China ports were closed by the end of the week and will likely be for two to three days. ...
Tuesday, 06 August 19
SHIPPING MARKET INSIGHT - INTERMODAL
On the 12th of May four tankers were attacked near the coast of Fujairah. The tankers hit were waiving international flags such as that of No ...
Monday, 05 August 19
SUPRAMAX: COAL FROM INDONESIA TO CHINA PAID AT MID $8,000S ON A 57,000-TONNER DELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
Having hit a high of $32,963 early last week, the Capesize 5TC now stands at $25,749. This is over 20% of its value lost in 10 days. C ...
Thursday, 01 August 19
PANAMAX: THE SENTIMENT IN THE MARKET IS STILL POSITIVE FOR THE LONGER TERM - FEARNLEYS
Capesize
Two weeks ago the 5TC index was at 33,000 USD pd. Since then it has fallen off a bit and has stayed around 27,000 USD pd the last week ...
Thursday, 01 August 19
INDIKA ENERGY REVENUES DECLINE DUE TO LOW COAL PRICES
One of the largest Indonesian integrated energy companies PT Indika Energy Tbk posted revenues of US $ 1,380.4 million, down 4.6% compared to US $ ...
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- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
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