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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, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
Tuesday, 15 September 15
Q2'16 RICHARDS BAY COAL SWAPS DIP TO $ 51.10 PER TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
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- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- The University of Queensland
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