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