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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Planning Commission, India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
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