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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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Wednesday, 29 June 16
THE DRY BULK INDICES, OPPOSITE TO MOST GLOBAL MARKET INDICES, ROSE END OF LAST WEEK
Last week closed off with a massive shockwave for markets across the world following the British referendum, the result of which will mark the begi ...
Tuesday, 28 June 16
WEEKLY CS COAL INDICES ROSE ON RENEWED DEMAND FROM CHINA
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.66 percent week over week to averaging $39.65 per ton this past week, sh ...
Tuesday, 28 June 16
CHINA'S IRON ORE IMPORTS: HOW MUCH MORE WORK FOR CAPES? - CLARKSONS
Chinese iron ore imports account for around two thirds of global seaborne iron ore shipments, making it the key driver of Capesize employment. Whil ...
Monday, 27 June 16
LATEST NEWS ON BIMCO'S CONTRACTS AND CLAUSES
BIMCO is currently updating several of its most widely used charter parties including SUPPLYTIME and BARECON. New developments include the Standard ...
Monday, 27 June 16
BREXIT RESULT COULD SEE UK FACING AN EXODUS OF MARITIME TALENT - FASTSTREAM
The UK’s decision to leave the EU has the potential to drive many of its maritime employees away, according to the results of a survey issued ...
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- Central Java Power - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
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