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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, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- The University of Queensland
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
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