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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, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- VISA Power Limited - India
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
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