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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, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
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- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Planning Commission, India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- The University of Queensland
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
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