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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, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
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- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- MS Steel International - UAE
- ASAPP Information Group - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
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