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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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Sunday, 18 January 15
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN WEAK NEXT WEEK
COALspot.com: The BDI was up 4.51 pct week on week on Friday 16, January 2015. The BDI closed at 741 points on this Friday after gaining arou ...
Friday, 16 January 15
U.S. WEEKLY COAL PRODUCTION UP 7.3% W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 15 January 15
PANAMAX : MARKET CONTINUE ON LOW PACE - FEARNLEYS
Handy
On a general basis we can say that rates are softening in both hemispheres. Although for some specific trades we can see premiums being ach ...
Thursday, 15 January 15
LOW CASH COSTS, GOOD LIQUIDITY HELP ASIAN OIL COMPANIES IN PRICE ROUT - FITCH
Fitch Ratings says that rated oil and gas production companies in Asia can comfortably operate under low oil prices for some time given their gener ...
Wednesday, 14 January 15
DRY BULK MARKET NOTED ANOTHER WEEKLY DECLINE - INTERMODAL
COALspot.com: The Dry bulk market noted another weekly decline on Friday, with the performance of the Capesize market still weighing down on the re ...
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- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
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