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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, 07 January 15
2015 IS RIDDLED WITH CHALLENGES FOR THE SHIPPING SECTOR, MOST NOTABLY THE DRY BULK MARKET - HELLENIC SHIPPING NEWS
As the new year has now set foot for real, many are still looking to detect what’s in store for the various shipping markets, with the first ...
Tuesday, 06 January 15
SHIPPING MUST ADOPT CAN-DO ATTITUDE IN 2015 - MOORE STEPHENS
Shipping needs to adopt a can-do attitude in order to successfully meet the challenges which are likely to come its way in 2015.
Shipping part ...
Tuesday, 06 January 15
Q4' 15 FOB INDONESIA COAL SWAP CLOSED 1.81% HIGHER COMPARED TO Q1' 15 CLOSING
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 0.74 (-1.51%) m ...
Tuesday, 06 January 15
FOB RICHARDS BAY COAL SWAPS LOST W-O-W AND M-O-M, SGX DATA SHOWS
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month and week over week.
The Q1 swap has lost US$ 3.52 (-5. ...
Monday, 05 January 15
CFR SOUTH CHINA COAL SWAPS GAINED WEEK OVER WEEK, SGX DATA SHOWS
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 2.50 (-4.02%) month over month and gained US$ 0.20 ( ...
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- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- White Energy Company Limited
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- The University of Queensland
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
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