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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, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
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