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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, 03 December 14
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
The dry bulk market seems unable to turn sentiment round and is still looking for direction. The BCI's 887-point free fall last week had an obv ...
Wednesday, 03 December 14
CAPESIZE DRY BULK CARRIERS ENTER 2015 WITH MIXED FORTUNES, WITH A POSITIVE AND A NEGATIVE SCENARIO BOTH EMERGING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future of the Capesize dry bulk market appears to be engulfed from mixed “feelings” among analysts and market participants, despite ...
Tuesday, 02 December 14
KEY PLAYERS SHED NEW PERSPECTIVES ON COAL MARKETS
Press Release: Singapore’s ONLY and longest established Coal Trade event. Whilst Coal prices remain challenging, there is widespread consensu ...
Tuesday, 02 December 14
KOMIPO INVITES BIDS FOR 585,000 METRIC TONS OF COAL FOR Q1'15
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids for the supply of 585,000 Metric Tons of coal. According to invitation, 5700 ...
Tuesday, 02 December 14
U.S WEEKLY COAL PRODUCTION FELL 1.4% WEEK ON WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.6 million short tons (mmst) o ...
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- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- The University of Queensland
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- The Treasury - Australian Government
- White Energy Company Limited
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
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