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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, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Posco Energy - South Korea
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
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