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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, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
Friday, 01 July 16
BREXIT SET TO HURT SHIPPING IN THE LONG-TERM AS IT WILL TAKE ITS TOLL IN THE GLOBAL ECONOMY'S GROWTH - HELLENIC SHIPPING
Setting aside the short-term negative impact of the Brexit, in terms of stock market and currency volatility, it’s more than evident that the ...
Friday, 01 July 16
U.S'S COAL EXPORTS HAVE DECLINED FOR TWELVE QUARTERS IN A ROW - EIA
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.7 million short t ...
Thursday, 30 June 16
CAPE - THIS WEEK'S FREIGHT AND ACTIVITY LEVEL HAVE KEPT STABLE - FEARNLEYS
Cape
This week’s freight and activity level have kept stable. It is support at the present levels and despite a volatile market the freight ...
Thursday, 30 June 16
OIL PRODUCT TANKERS EARNINGS DECLINE AS STOCKBUILDING SLOWS DOWN - BIMCO
BIMCO’s expectations remain as the oil product tanker fleet continues to grow with earnings at the lowest since Q3 in 2014. But there is stil ...
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- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- PTC India Limited - India
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- SMC Global Power, Philippines
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Bhatia International Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
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