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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, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Marubeni Corporation - India
- Planning Commission, India
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
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