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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, 27 June 16
THE BDI UP 3.75 PERCENT ; BCI FELL 1.51% WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 3.75 percent from las ...
Monday, 27 June 16
INDONESIA BANS (AGAIN) SHIPS SAILING TO THE PHILIPPINES FROM INDONESIA
COALspot.com: The Indonesian Transport Ministry strictly prohibited harbour masters issuing permits to all Indonesian-flagged vessels bound for the ...
Friday, 24 June 16
U.S WEEKLY COAL PRODUCTION UP MARGINALLY
COALspot.com – U.S, world’s one of the largest coal producers has produced approximately totalled an estimated 13.4 million short tons ...
Wednesday, 22 June 16
SMALL RISE IN SHIPPING CONFIDENCE - MOORE STEPHENS
In May 2016, the average confidence level expressed by respondents in the markets in which they operate was 5.1 on a scale of 1 (low) to 10 (high). ...
Wednesday, 22 June 16
SHIPPING MARKET INSIGHT - NASSOS SOULAKIS
Stagnation- With the BDI stuck in the low 600 points for almost a month now, if we had to choose a word to describe the state of the Dry Bulk freig ...
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- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
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