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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, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Planning Commission, India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Bhatia International Limited - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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