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