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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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Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
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- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Electricity Generating Authority of Thailand
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