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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, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
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- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- The University of Queensland
- Tamil Nadu electricity Board
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
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