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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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- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- PTC India Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
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