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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, 11 May 16
MARKET INSIGHT - KATERINA RESTIS
On Saturday 7th May, Riyadh replaced the long-serving oil minister of more than two decades, Ali-Al-Naimi, as part of a major government overhaul, ...
Tuesday, 10 May 16
VOLATILITY? VARIATION NO ENIGMA TO SHIPPING..... - CLARKSONS
Along with cyclicality, the other characteristic of the shipping markets which receives frequent mention is volatility. This is so evident that the ...
Monday, 09 May 16
INDONESIAN CS COAL INDICES UP CONTINUES; POSITIVE DIRECTION
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.10 percent week over week to averaging $38.82 per ton on this past Wednesday, a ...
Monday, 09 May 16
DRY BULK SHIPPING TO WITNESS STEADY PROGRESS MOVING FORWARD ON THE BACK OF GROWING TRADE VOLUMES - BIMCO
In its latest short-term analysis of the shipping markets, BIMCO reiterated its optimism on the prospects of the dry bulk market moving forward. Ac ...
Monday, 09 May 16
BALTIC DRY INDEX ENDS WEEK ON A NEGATIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this week.
The freight market was weak and a ...
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- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
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