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