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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, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- The University of Queensland
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- PTC India Limited - India
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