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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, 03 February 16
DRY BULK MARKET CONTINUES TO BE UNDER PRESSURE - INTERMODAL
The Dry Bulk market continues to be under pressure, with the BDI remaining in search of even the slightest support, which seems to be delaying more ...
Tuesday, 02 February 16
RECORD EXPORTS THROUGH SOUTH AFRICA'S RICHARDS BAY COAL TERMINAL MADE AT EXPENSE OF SMALLER RIVALS, IHS SAYS
Five percent increase in coal exports through South Africa’s dominant Richards Bay Coal Terminal in 2015 unlikely to accelerate country&rsquo ...
Tuesday, 02 February 16
SETTING ASIDE, STRIKING OUT AND APPEALS TO THE COURT OF APPEAL IN SHIP ARRESTS - RAJAH & TANN ASIA LLP
KNOWLEDGE TO ELEVATE
The Singapore Court of Appeal once again has had to grapple with ship arrest, setting aside and appeals to the Court unde ...
Monday, 01 February 16
DRY BULK SUFFERS FROM POSEIDON'S POTENT PRONGS - CLARKSONS
It has been a grim start to 2016 for the bulkcarrier market, with the Baltic Dry Index sliding to new record lows on almost every day of the year s ...
Monday, 01 February 16
INDONESIA'S SECOND LARGEST COAL MINER ADARO ENERGY HAS PRODUCED 51.46 MT IN 2015; 8% LOWER COMPARED TO FY14
COALspot.com: Adaro Energy, the Indonesia’s second largest coal producer by volume has produced 51.46 Mt in 2015, 8% lower compared to ...
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- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- CNBM International Corporation - China
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