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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 October 18
SHIPPING MARKET INSIGHT - KATERINA RESTIS
The bunker fuel supply and availability landscape is close to its transformation with the enforcement of the IMO’s global 0.5% fuel Sulphur c ...
Tuesday, 02 October 18
PANAMAX: A FURTHER RISE ACROSS ALL MAIN ROUTES THIS WEEK - ALLIED
Capesize
Finally an upward recovery was in sight in the spot market the past few days, after the prolonged negative pressure noted the weeks pr ...
Tuesday, 02 October 18
THE PRICE OF OIL CONTINUES ITS CLIMB AMIDST A SERIES OF CONCERNS REGARDING SUPPLY CONSTRAINTS - GEORGE LAZARIDIS
It has been a busy week for oil traders as the price of oil continues its climb amidst a series of concerns regarding supply constraints.
...
Tuesday, 02 October 18
INDONESIA GETS READY TO MEET INCREASED COAL DEMAND FROM CHINA, FREIGHT TO RESPOND - MIKAL BOE
Indonesian coal suppliers have increased their domestic coal production target by 4.5 percent from a previous 485 million tonnes to a massive 507 m ...
Monday, 01 October 18
SUPRAMAX: A 56,000 DWT FIXED DELIVERY FOR A SURABAYA TRIP WITH REDELIVERY TO WEST COAST INDIA AT $13,500 - THE BALTIC BRIEFING
Capesize
A stop-start market for the big ships with many expectations and few fulfilled. Holidays curtailed trading early in the week, but the ...
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- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
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