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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 February 15
PANAMAX: NOPAC AND AUSSIE ROUNDS ARE DONE IN LOW/MID $ 4000; TRIPS VIA INDONESIA TO INDIA CLOSER TO THE $5000 MARK - FEARNLEYS
Handy
The handy and supra market has not seen any firming rates in front of the Chinese New Year and still suffering on low activity in both hemi ...
Wednesday, 18 February 15
DRY BULK SHIPPING TO RECOVER IN LATE 2015 - DREWRY MARITIME RESEARCH
Strong trade growth, moderating fleet development and deployment of new fuel efficient vessels are expected to lead to a recovery in dry bulk shipp ...
Tuesday, 17 February 15
WHO PAYS THE SUEZ CANAL FEES? - INCE & CO
KNOWLEDGE TO ELEVATE
This was an appeal from an arbitration award on a point of construction in relation to the wording of an addendum to a ch ...
Tuesday, 17 February 15
BUOYANT WAVES IN RECENT YEARS: GLOBAL SHIP INVESTMENT SINCE THE CRASH - HELLENIC SHIPPING NEWS
Anxiety about fleet expansion is a recurring feature of world shipping markets. Within the global maritime community, worries about the vast amount ...
Tuesday, 17 February 15
FOB SUB-BIT INDONESIA COAL SWAP UP 8% MONTH OVER MONTH
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 rose week over week and month on month.
The Q2 swap up US$ 3.58 (+8.00%) month o ...
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- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
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