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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, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
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- Planning Commission, India
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Economic Council, Georgia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
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