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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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Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Economic Council, Georgia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
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