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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, 11 July 16
THE MAIN SEA FREIGHT INDEX, BDI ROSE FURTHER ON 8 JULY DUE TO STRONG DEMAND FOR PANAMAX SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.84 percent from las ...
Monday, 11 July 16
DRY BULK MARKET: UP TO 30 MILLION DWT OF OLDER BULKERS WILL NEED TO BE SCRAPPED BY END OF 2017 FOR MARKET TO FIND BALANCE
Tonnage oversupply in the dry bulk market is more than evident, as newbuildings have been hitting the water faster than owners can scrap their olde ...
Friday, 08 July 16
U.S. WEEKLY COAL OUTPUT UP 3% TO 14.1 MMST - EIA
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 14.1 million short tons (mms ...
Thursday, 07 July 16
PANAMAX : THE TENDENCY FROM LAST WEEK CONTINUES WITH A CONSIDERABLY STRONGER SENTIMENT ALL ACROSS THE BLOCK - FEARNLEYS
Capesize
Rates have been holding at steady levels over the last weeks but towards end of this period they are becoming under more pressure as gen ...
Thursday, 07 July 16
CONSOLIDATION TO RULE OVER SHIPPING, AS EXECUTIVES SEEK INVESTMENT OPPORTUNITIES IN CHINA, INDIA AND EUROPE SAYS NORTON ROSE SURVEY
The transport sector is looking to Asia Pacific as the key market for investment over the next five years, according to the seventh The way ahead T ...
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- VISA Power Limited - India
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Planning Commission, India
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Mjunction Services Limited - India
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