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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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Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
Saturday, 15 June 19
SUPRAMAX: A 58,000-TONNER, OPEN QINGDAO, WAS BOOKED TO REDELIVER IN EAST COAST INDIA AT $6,500 - BALTIC BRIEFING
Capesize
The market closed on a quiet Friday last week after a few hectic days of mid-week trading. Trade routes from Brazil to the Far East we ...
Friday, 14 June 19
PANAMAX: OUTLOOK IS MIXED - FERNLEYS
Capesize
Sentiment changed to a more nervous tone as pacific cargo volumes failed to deliver as expected, however latest activity indicates res ...
Friday, 14 June 19
ELECTRONIC (PAPERLESS) TRADING - SKULD
KNOWLEDGE TO ELEVATE
Electronic Shipping Solutions: Bolero International Ltd, E-Title Authority Pte Ltd, Global Share S.A. (edoxOnline platfor ...
Wednesday, 12 June 19
KOSPO INVITES BIDS FOR 140,000 MT OF 4,600 NCV COAL FOR SEP. 2019 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 140,000 MT of minimum 4,600 kcal/kg NCV coal ...
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- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
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