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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, 07 October 15
SHIPPING MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2015 and more specifically during the summer season has been rather remarkable. 421 v ...
Wednesday, 07 October 15
INDONESIA COAL SWAPS HAVE CONTINUED TO DECLINE, FALLING ALMOST 7% M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.23 (-5.51%) per t ...
Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the ...
Tuesday, 06 October 15
FOB RICHARDS BAY COAL SWAPS PLUNGE MORE THAN 6 PER CENT M-M
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$ ...
Monday, 05 October 15
Q1 & Q2 2016 DELIVERY SWAPS DECLINED M-M AND W-W THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.36 per ton (0.85%) month over month to US$ 42.12 per ton. The ...
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- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
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- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
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- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
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- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Minerals Council of Australia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Planning Commission, India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
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