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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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Tuesday, 08 December 15
HOW TO MITIGATE LEGAL RISKS WHEN PURCHASING BUNKERS - LESSONS LEARNED FROM THE OW BUNKER COLLAPSE - THE SWEDISH CLUB
KNOWLEDGE TO ELEVATE
About a year has passed since OW Bunker & Trading A/S filed for bankruptcy. The collapse shows that there are signifi ...
Monday, 07 December 15
5000 GAR CS (I) COAL INDEX REMAIN THE SAME OVER LAST WEEK
COALspot.com: The 5000 GAR CS (i) coal index remain the same over last week.
According to the CS (i) coal (system generated) index, the CS 50 ...
Monday, 07 December 15
COAL DEMAND IN 2016 FAILS TO SUPPORT PRICES; CFR SOUTH CHINA COAL SWAPS SEEN AT $US 42 A TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 1.70 (3.88%) per ton month over month.
A commodity swap ...
Sunday, 06 December 15
THE BDI DECLINED BY 3.09 PERCENT TO 563 POINTS ON 4 DECEMBER
COALspot.com: The BDI declined by 3.09 percent to 563 points on 4 December 2015.
The Cape index was also declined by 10.01 percent to 890 poin ...
Sunday, 06 December 15
DRY BULK MARKET ON REVERSE MODE, SET TO BREAK NEW ALL-TIME LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been the negative “star” of the shipping industry for quite some time. In fact if it wasn’t for the boomi ...
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- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Planning Commission, India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
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