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