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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, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
Tuesday, 20 June 17
WORLD ECONOMY SHOWS A MORE OPTIMISTIC TREND
During the past weeks, we have seen many organizations and think tanks show a more optimistic face with regards to the world economy. The World Ban ...
Monday, 19 June 17
PANAMAX RATES HELP BALTIC INDEX TO A POSITIVE MOVE
COALspot.com: The Freight market rose very marginally this past week compared to the previous week, as BDI and Panamax indexes show a positive tren ...
Friday, 16 June 17
WEEKLY U.S. COAL PRODUCTION RISES; UP 24.1% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 15 June 17
SUPRAMAX NICKEL ORE FROM PHILIPPINES TO S. CHINA PAYING AROUND MID $10000 - FEARNLEYS
Supramax
Market looked more promising from both sides of the basins. Within Atlantic USG returned with tick better rates seen as tonnage kept tig ...
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- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Australian Coal Association
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
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