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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, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
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