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