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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, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
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