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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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Saturday, 22 November 14
THE FALL IN BUNKER PRICES REDUCE FUEL COSTS SIGNIFICANTLY - BIMCO, PETER SAND
For a ship that burns 24 tonnes of fuel per day while steaming, fuel costs are reduced by as much as USD 1 million a year if current price level st ...
Saturday, 22 November 14
DRY BULKERS NEWBUILDING DELIVERIES REACHED 11.8 MILLION DWT DURING THIRD QUARTER, NET FLEET GROWTH FOR 2014 TO REACH 5% - HELLENIC SHIPPING NEWS
The dry bulk market has rebounded since its less than impressive performance since the start of the year, but overall, third quarter figures could ...
Friday, 21 November 14
BUMI ENTERS INTO CONDITIONAL SALE & PURCHASE AGREEMENT TO SELL FBS STAKE
COALspot.com: PT Bumi Resources Tbk, one of the Indonesia's largest coal producers confirms that it has executed a Conditional Sale and Purchas ...
Friday, 21 November 14
U.S LAST WEEK'S COAL PRODUCTION STAYS FLAT W-O-W
COALspot.com – United States the world's one of the largest coal producers, produced approximately 18.9 million short tons (mmst) of coal ...
Thursday, 20 November 14
MOST MAJOR ASIAN ECONOMIES TO BENEFIT FROM LOWER OIL - FITCH
COALspot.com: The 25% drop in the price of oil since July is likely to lift economic growth prospects, improve terms of trade, and have a pot ...
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- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
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