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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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Tuesday, 03 May 16
HOW TO AVOID THE LATEST CARGO FRAUDS - BIMCO
BIMCO receives regular reports from members around the world about cargo fraud. This week alone we have had two reports of cargoes being fixed (or ...
Monday, 02 May 16
INDIA'S GANGAVARAM PORT SETS ALL INDIA RECORD FOR NON-COKING COAL DISCHARGE
COALspot.com: Gangavaram Port, the deepest and the most modern port in India, has created yet another historical milestone record by discharging 15 ...
Monday, 02 May 16
CS (I) 5000 GAR COAL INDEX CLOSES 0.11% HIGHER, 5700 GAR COAL RISES 0.07% W/W
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.28 percent week over week to averaging $38.78 per ton on this past Friday, acco ...
Monday, 02 May 16
FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Saturday, 30 April 16
40 YEARS OF HANDLING COAL AT THE BTW IN WILHELMSHAVEN UNDER THE RHENUS FLAG
Press Release: The first bulk carrier with coal on board docked at the Bulk Terminal Wilhelmshaven (BTW), which is operated by Rhenus Midgar ...
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- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Minerals Council of Australia
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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