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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, 11 March 15
DRY BULK MARKET CLOSED OFF ON THE GREEN FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The Dry Bulk market closed off on the green for a second week in a row, while the performance of Capesizes hindered a more substantia ...
Wednesday, 11 March 15
MARKET INSIGHT : NEWBUILDINGS - PANOS TSILINGIRIS
From a cost-based, buy-low perspective, there is currently a buying opportunity in the second-hand dry bulk market. I am an anti-cyclical (buy-low) ...
Wednesday, 11 March 15
DRY BULK MARKET: ALL IS NOT LOST FOR A RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The low cost of commodities across the board could trigger an increase of trade among many countries, which in turn could lead to a recovery of the ...
Wednesday, 11 March 15
U.S. ELECTRIC GENERATING COMPANIES TO ADD MORE THAN 20 GW OF GENERATING CAPACITY IN 2015; 16 GW OF GENERATING CAPACITY IS EXPECTED TO RETIRE IN 2015
COALspot.com: In 2015, electric generating companies in U.S. expect to add more than 20 gigawatts (GW) of utility-scale generating capacity to the ...
Tuesday, 10 March 15
OIL PRICE FORECASTING - IGNORE THE EXPERTS: COLIN MARSHALL
KNOWLEDGE TO ELEVATE
Experts put themselves on a pedestal, making claims to have special forecasting abilities for oil price trends. They, too ...
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- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- White Energy Company Limited
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
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