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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, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
Monday, 25 July 16
THE BDI FELL ON WEAKER RATES FOR CAPESIZE & PANAMAX VESSELS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Cape and Panamax segments ending in neg ...
Friday, 22 July 16
U.S COAL OUTPUT ROSE 17.2% WEEK OVER WEEK - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 15.1 million short tons (mms ...
Thursday, 21 July 16
WHAT TO DO WHEN YOU DON'T GET PAID - SHIPOWNERS CLUB
Present market conditions have led to an increase in claims related to unpaid hire. To recover unpaid hire, Owners need to fully understand who the ...
Thursday, 21 July 16
CONSTRUCTIVE TOTAL LOSS: WHAT GOES IN TO CALCULATING QUANTUM? - HILL DICKINSON
KNOWLEDGE TO ELEVATE
The Commercial Court recently delivered its judgment in an important case (Connect Shipping Inc and Machrimar Management ...
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- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Bhatia International Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
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