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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, 12 November 14
PANAMAX: WITNESSED A FAIRLY STABLE MARKET IN THE ATLANTIC
COALspot.com: Despite the fact that the Dry Bulk market noted another weekly increase, clouds of uncertainty returned mid-week onwards, as the mini ...
Wednesday, 12 November 14
SHIPPING MARKET INSIGHT - CHRISTOPHER T. WHITTY
COALspot.com: The fight continues between the low-cost iron ore producers and the big three: Vale, Rio Tinto and BHP Billiton. We are moving into a ...
Tuesday, 11 November 14
FACING CHALLENGES AND MEETING OPPORTUNITIES - INTERNATIONAL EPC CONFERENCE & EXHIBITION
Press Release: SKYCONNECTION and TRANSEVENT, which is fully supported by the Institution of Engineers Indonesia and Ministry of Industry of the Rep ...
Tuesday, 11 November 14
NEWCASTLE COAL SWAP CLOSED AT $ 52.65 FOR Q1' 15 DELIVERY
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery decreased US$ 2.83 (-5.10%) month over month and US$ 1.35 (-2.50%) week ove ...
Tuesday, 11 November 14
PORT OF NEWCASTLE'S OCTOBER COAL SHIPMENTS SLIPPED 7.40% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1,115.7 mil ...
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- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- The University of Queensland
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
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