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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, 15 June 16
THE DRY BULK PRICES CORRECTED UPWARDS ROUGHLY 15% - KONSTANTINOS KONTOMICHIS
Once more, the international shipping community turned its attention to Greece and more specifically to Attica that hosted Posidonia, the biggest m ...
Tuesday, 14 June 16
CS COAL INDICES ROSE UP FOR A THIRD STRAIGHT WEEK; 4200 GAR COAL UP 0.73%
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.54 percent week over week to averaging $39.37 per ton this past week, shows ...
Monday, 13 June 16
DEMAND FOR DRY BULK COMMODITIES COULD PROVIDE FUTURE BOOST FOR SHIP OWNERS - HELLENIC SHIPPING NEWS
When it comes to the dry bulk market, shipowners these days are looking for news in any shape or form they can find them. However, as the discussio ...
Monday, 13 June 16
ONSHORE SHALE: WORTH KEEPING IN THE SHIPPING SPOTLIGHT CLARKSONS
Generally, shipping industry watchers spend much of their time monitoring events out to sea: how fleets are evolving, trade volumes growing and fre ...
Monday, 13 June 16
PORT OF NEWCASTLE SHIPPED 5.03% MORE COAL IN MAY; AVERAGE SELLING PRICE DECLINED 2.08% FROM APRIL
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.162bill ...
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- The University of Queensland
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Australian Coal Association
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
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