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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, 04 April 16
CAPE INDEX JUMPED 70% WEEK ON WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to rose this week.
The freight market was ...
Friday, 01 April 16
ASSESSING THE DRY BULK MARKET AT ROCK BOTTOM - CLARKSONS
While the opening months of the year are typically a weak period for the dry bulk market, the downturn so far this year has been severe. Earnings h ...
Friday, 01 April 16
NINE AM - TIME TO GET AN INDONESIAN LANGUAGE VERSION OF YOUR CHARTERPARTIES - CLYDE & CO
KNOWLEDGE TO ELEVATE
For several years, Indonesian law (Article 31, Law Number 24 of 2009) has required that memoranda of understanding (" ...
Friday, 01 April 16
U.S. COAL PRODUCTION UP SLIGHTLY WEEK OVER WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 11.6 million shor ...
Thursday, 31 March 16
CAPE: ANOTHER UNEVENTFUL WEEK WITH FIXTURES CONCLUDED AT LAST DONE LEVELS - FEARNLEYS
Cape
Another uneventful week with fixtures concluded at last done levels, CS levels remain around the USD 3 mark, whilst C3 is still just short o ...
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- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
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