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