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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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Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Australian Coal Association
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
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