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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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Thursday, 03 December 15
PANAMAX BUSINESS REMAINED UNDER PRESSURE LAST WEEK
COALspot.com: Following the new record lows the Dry Bulk market witnessed the week prior, the BDI took a much needed breath during the past days.
...
Wednesday, 02 December 15
Q3' 16 FOB RICHARDS BAY COAL SWAP SLIGHTLY UP FOR THE THIRD STRAIGHT WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 up month over month and fell week over week.
The Q1’ 2016 &nbs ...
Wednesday, 02 December 15
MARKET INSIGHT - VASSILIS LOGOTHETIS
Boom and bust cycles in commodity prices are not something rare, yet they have important implications both for the world economy in general and for ...
Tuesday, 01 December 15
FOB NEWCASTLE COAL SWAP UP THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.75 per ton (9.26%) month over month to US$ 36.75 per ton. The swap ...
Tuesday, 01 December 15
TANKERS VERSUS BULKERS - JUST PLAYING CATCH UP? - CLARKSONS
It’s now more than a year since the tanker market took off. In mid-2014 tanker earnings picked up and since then have been in the $30-$40,000 ...
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- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- MS Steel International - UAE
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
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