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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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Sunday, 13 December 15
THE LOW VESSEL DEMANDS PUSHED DOWN BALTIC DRY INDEX FURTHER DOWN
COALspot.com: The low vessel demand across nearly all vessel sizes pushed the Baltic Exchange’s main sea freight index further down in this F ...
Sunday, 13 December 15
DRY BULK RATES KEEP ON FALLING AS LOW VESSEL DEMAND IS STILL THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market nowadays is in an endless downward spiral, which as it turns out is unable to recover, at least as long as the current balance ...
Friday, 11 December 15
US COAL PRODUCTION UP 7.7% IN WEEK ENDED DECEMBER 5, 2015
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.1 million shor ...
Thursday, 10 December 15
LIENING CARGO - WHICH LIEN CLAUSE APPLIES TO THE BILL OF LADING? : WIKBORG REIN | HELLENIC SHIPPING NEWS
KNOWLEDGE TO ELEVATE
In a dry bulk market where a charterer is not paying freight or hire, its counterparty is often left to consider whether ...
Thursday, 10 December 15
CANADIAN MINER TECK ANNOUNCES LNG HAUL TRUCK PILOT PROJECT
Teck Resources Limited is piloting the use of liquefied natural gas (LNG) as a fuel source in six haul trucks at its Fording River steelmakin ...
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- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Planning Commission, India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
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