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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- Romanian Commodities Exchange
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
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