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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
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 ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- The University of Queensland
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
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