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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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Thursday, 23 August 18
SUPRAMAX: SOME FRESH COAL CARGOES APPEARED IN SE ASIA, GIVING A BIT PRESSURE ON RATES FOR END AUGUST SHIPMENTS - FEARNLEYS
Capesize
Slightly softer but generally very healthy for the big ships, with limited supply of early tonnage and positive Brazilian ore export v ...
Wednesday, 22 August 18
KOMIPO INVITES BIDS FOR 480K TONS OF BITUMINOUS COAL FOR BORYEONG POWER PLANT & SHIN BORYEONG POWER PLANTS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 480,000 mt of min. 5700 NAR coal of Australian origi ...
Wednesday, 22 August 18
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
During the most quite week of the summer period we witnessed a trade war between United States and Turkey. A battle, which started with the arrest ...
Monday, 20 August 18
SUPRAMAX: OVERALL IT WAS A POSITIVE WEEK FOR THE BSI INDEX WITH GAINS MADE - THE BALTIC BRIEFING
Capesize
A week of largely unfulfilled expectations with holidays again curbing activity. Rates remained essentially healthy, but despite bad wea ...
Friday, 17 August 18
DO ARBITRATION AGREEMENTS IN BILLS OF LADING BIND THEIR HOLDERS? - WFW
KNOWLEDGE TO ELEVATE
Bills of lading are a crucial part of the security package traditionally sought by trade finance providers.
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- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
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