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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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Tuesday, 23 December 14
SHIPOWNERS ARE FINALIZING MORE DEALS AS YEAR END COMES CLOSER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
With the 2014 year just a few days before waving goodbye, shipowners are looking to close their pending deals in both the newbuilding and S&P m ...
Monday, 22 December 14
Q2'15 CFR SOUTH CHINA COAL SWAP CLOSED $ 0.30 LOWER THAN Q1'15 CLOSING
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2015 delivery has decreased by US$ 3.67 (-5.81%) month over month and US$ 0.35 (-0.58%) ...
Monday, 22 December 14
API 5 FOB NEWCASTLE COAL SWAPS ARE HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.71 per MT (-3.24%) and closed at US$ 51.02 on 19 December month ...
Sunday, 21 December 14
PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA FALLS FURTHER
COALspot.com: The BDI continued its fall as cape index lost heavily week on week.
The BDI was down 6.95 percent week over week and closed at 8 ...
Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
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- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- PTC India Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- The University of Queensland
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
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