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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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Thursday, 20 November 14
HANDY: INDO ROUNDS ARE BEING FIXED IN REGION OF US$ 10K - FEARNLEYS
Handy
In the Atlantic we have experienced firmer rates this week much lead by the grain activity out of USG. Vsls open in the USG can achieve in ...
Thursday, 20 November 14
DEMAND FOR DRY BULK CARRIERS INCREASES ON THE BACK OF HEIGHTENED FREIGHT RATE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners are looking to take advantage of favorable market conditions through the acquisition of more dry bulk carriers. According to shipbroker ...
Wednesday, 19 November 14
INDONESIA FUEL-PRICE RISE A CLEAR, POSITIVE REFORM SIGNAL - FITCH
COALspot.com: Indonesia's hike of more than 30% in administered fuel prices, announced on 17 November, provides a clear, positive signal of the ...
Wednesday, 19 November 14
CAPES WERE UNDER PRESSURE; LOST 20% WITHIN A WEEK
COALspot.com: " The negative environment in which the week prior ended, marked this past week as well, which closed off on Friday noting the f ...
Wednesday, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
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- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
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