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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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Monday, 25 April 16
BALTIC DRY INDEX ENDS WEEK ON A POSITIVE NOTE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
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- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
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