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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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Friday, 12 May 17
SLOW AND UNEVENTFUL WEEK FOR THE PANAMAX MARKET
Supramax
In the Atlantic, only USG were showing some improvement, where pet-coke cargoes to India was fixed in the range of 19-23k daily and to C ...
Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
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- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
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