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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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Wednesday, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY CONTINUES
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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
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