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