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