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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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Wednesday, 24 February 16
PRIVATE EQUITY FUNDS LOOKING TO EXIT SHIPPING, MOST NOTABLY DRY BULK, AS OVERORDERING HAS RESULTED IN EXCESS TONNAGE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The injection of more than $13 billion in shipping from various private equity funds over the past few years has resulted in what many feared would ...
Wednesday, 24 February 16
THIRTEEN - NOT ALWAYS AN UNLUCKY NUMBER? - CLARKSONS
Back in early 1999 the price of a 5 year old Panamax bulkcarrier dipped to $13.5m, and ever since analysts have hailed purchase decisions made at t ...
Monday, 22 February 16
4200 GAR COAL INDEX SETTLES AT $27.02, DOWN 0.07% FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.17 percent week over week to averaging $38.89 per ton on this past Friday, ...
Monday, 22 February 16
FREIGHT MARKETS PICKED UP SLIGHTLY THIS PAST WEEK
COALspot.com: The freight markets picked up slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of gl ...
Friday, 19 February 16
INDONESIAN HBA HITS A NEW LOWS BELOW $51 A TON AS OVERSUPPLY, LOW DEMAND WOES PERSIST
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016. HBA has slumped second time t ...
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- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
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