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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, 18 October 16
COAL PRICES KEPT CLIMBING
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 18 October 16
PANAMAX: A FAIRLY POSITIVE END TO THE WEEK - ALLIED
Capesize
Things seemed to be moving sideways during the first half of the week, with resistance being felt as owners tried to resist any further ...
Monday, 17 October 16
THE FREIGHT MARKET WAS SOFTENED IN ALL SEGMENTS THIS PAST WEEK - VISTAAR
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 14 October 16
SUPRAMAXES: DELIVERY SINGAPORE ARE SETTLING AROUND HIGH 6K'S FOR COAL TRIPS TO CHINA VIA INDO - FEARNLEY
Supramax
Wait and see attitude prevailing all over the market.
There have been several fresh cargoes, which have been efficiently covered by ...
Friday, 14 October 16
U.S. SHIPPED 3.3 MMST COAL IN JULY 2016; DECLINE 40% M/M
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.6 million short ton ...
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- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
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