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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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Sunday, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- The University of Queensland
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
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