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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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Monday, 23 January 17
THE FREIGHT MARKET DID NOT CHANGE MUCH AND WAS ALMOST AT SAME LEVELS AS LAST WEEK
COALspot.com: The Freight market did not change much and was almost at same levels as last week.
The Baltic Exchange, tracking rates for ships ...
Friday, 20 January 17
U.S. WEEKLY COAL OUTPUT ESTIMATED 15.7 MMST; UP 14.1% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 19 January 17
KOREAN POWER UTILITY BORYEONG POWER TO IMPORT 660K TONS OF BITUMINOUS COAL FOR MARCH 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 590,000 Metric Tons of Bituminous coal and 7000 ...
Thursday, 19 January 17
PANAMAX RATES ARE UNDER PRESSURE IN BOTH HEMISPHERES - FEARNLEYS
Supramax
The market remained flat and the week continued at the same pace as last.
According to Fearnleys weekly dry bulk report, still more ...
Wednesday, 18 January 17
TANKER: THE CLEAN PRODUCT MARKET IS STILL NOT GIVING US ANY CLEAR SIGNS OF RECOVERY - GEORGE VASTARDIS
While we are approaching the Chinese New Year, the Clean Product market is still not giving us any clear signs of recovery, especially on The East ...
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- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
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