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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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Friday, 28 November 14
NEW BIMCO CLAUSE AIMS TO REDUCE SUPPLIERS' RELIANCE ON SHIP ARREST FOR CHARTERERS' UNPAID BUNKERS
KNOWLEDGE TO ELEVATE
Ship owners can, on occasion, find themselves in the invidious position of suffering unexpected loss of hire due to a tim ...
Friday, 28 November 14
JSW ENERGY AND GRM RESOURCES JOIN GLOBALCOAL
COALspot.com: globalCOAL® announced yesterday that two new Market Members have joined its online coal trading platform. According globaCOAL&rsq ...
Thursday, 27 November 14
MINING SERVICES TAX SPIKED BY 233% - BISNIS INDONESIA
COALspot.com: The Energy and Mineral Resources Department of Indonesia said the tax contribution from mining services sector in the 3rd Q 2014 ...
Thursday, 27 November 14
PANAMAX : EXPECTATION'S FOR A STRONG END OF YEAR RUSH, DISAPPEAR DAY BY DAY - FEARNLEYS
Handy
“We have experienced a firming market the last couple of weeks. More activity from cargo owners in the Atlantic and less available to ...
Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
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- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- MS Steel International - UAE
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- India Bulls Power Limited - India
- ASAPP Information Group - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Australian Coal Association
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- PTC India Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
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