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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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Saturday, 14 February 15
SHALE GAS AND TIGHT OIL ARE COMMERCIALLY PRODUCED IN JUST FOUR COUNTRIES - EIA
KNOWLEDGE TO ELEVATE
The United States, Canada, China, and Argentina are currently the only four countries in the world that are producing com ...
Friday, 13 February 15
U.S. WEEKLY COAL PRODUCTION SHOWS 10% DECLINE
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.1 million short tons (mmst) of coal ...
Friday, 13 February 15
SMALL AND MEDIUM-SIZED SHIP OWNERS SQUEEZED OUT OF THE MARKET ON CRASHING DRY BULK MARKET AND EUROZONE CRISIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Financing issues have started to tighten the noose in the throats of small and medium-size ship owners, who were already facing problems over the p ...
Thursday, 12 February 15
CAPESIZE: THE BEST DESCRIPTION FOR THE MARKET IS, FLAT - FEARNRESEARCH
Handy
The handy and supra market is also being affected by the marginal volume of activity in the commodity sales. We see a small upturn in the T ...
Thursday, 12 February 15
DRY BULK OWNERS SCRAP MORE VESSELS, AS MARKET REACHES HISTORICAL LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has reached historical lows this week, with the Baltic Dry Index (BDI) now trading at levels below operating expense levels for ...
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- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- MS Steel International - UAE
- ASAPP Information Group - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Australian Coal Association
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
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