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