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