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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, 14 November 14
MORE NATURAL GAS FROM RUSSIA TO HELP STABILISE CHINA PRICES - FITCH RATINGS
COALspot.com: Fitch Ratings has said possible additional natural gas supplies from Russia's OAO Gazprom to China via the Altai pipeline would h ...
Thursday, 13 November 14
SLOWER AND LOWER HAS BEEN THE TREND OF THE PANAMAX IN BOTH HEMISPHERES - FEARNLEYS
Handy
We are experiencing an oversupply of tonnage in the Atlantic which is out numbering the amount of cargoes, Fearnleys broker says in its lat ...
Thursday, 13 November 14
DRY BULK MARKET'S REBOUND HINGES ON IRON ORE OVERSUPPLY ISSUES MOVING FORWARD - HELLENIC SHIPPING NEWS
“One man’s benefit, is another man’s demise” is a phrase which can be used to describe today’s situation in the dry b ...
Thursday, 13 November 14
COAL MINISTER WANTS INDIA TO STOP COAL IMPORTS IN TWO OR THREE YEARS
COALspot.com: India to ramp up coal production to a billion tonnes by 2019 from its current level of 490 million tones. According to Power and Coal ...
Thursday, 13 November 14
MODERN DRY BULK SHIPS' PRICES START FIRMING UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While the main story of the past few weeks has been the rebound of the dry bulk market, which has been a result of increased Chinese iron ore impor ...
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- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
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