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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, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
Monday, 09 January 17
FFA SUPRAMAX: Q1 AND Q2 TRADING UP TO $7100 WHILE CAL17 PRINTED $7250 - FIS
Capesize
Sentiment has swung quickly on capes and although there appears to be a very short list for open tonnage in the Atlantic Feb dates appea ...
Monday, 09 January 17
COAL MARKETS WERE UNEXPECTEDLY ONE OF THE STRONGEST PERFORMERS OF 2016 - SGX
COALspot.com: Coal markets were unexpectedly one of the strongest performers of 2016, with domestic production restrictions in China as well as sup ...
Monday, 09 January 17
THE INDONESIA COAL BENCHMARK PRICE SLIDES AFTER THE RECENT RALLY
COALspot.com: The Indonesia coal benchmark price slides in January 2017 after the recent rally. The government declared benchmark prices for Indone ...
Friday, 06 January 17
U.S. WEEKLY ESTIMATED COAL PRODUCTION TOTALED APPROXIMATELY 12.4 MMST; DOWN 18.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 12.4 million short ton ...
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- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
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