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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, 07 November 14
U.S. PRODUCED 85.60 MILLION SHORT TONS OF COAL IN OCTOBER, UP 2.88% M-O-M
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.0 million short tons (mmst) of coal ...
Thursday, 06 November 14
THE ATLANTIC HAS REMAINED STRONG WITH A HEALTHY SUPPLY OF NEW CARGOES
Handy
This week has continued its slow trend in both hemispheres and even though rates are a bit up w-o-w it is not a clear sign for any improvem ...
Wednesday, 05 November 14
CAPESIZE SEGMENT ENJOYED FIRMING RATES ACROSS BOTH BASINS
Following a fantastic week in terms of rate performance for Capes, the Dry Bulk market managed to note another positive weekly closing, which stron ...
Wednesday, 05 November 14
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS
COALspot.com: The steep appreciation in dry bulker values between late 2012 and March 2014 resulted in unrealistically expensive ship values compar ...
Tuesday, 04 November 14
INDONESIAN COAL SWAPS FOR 2015 DELIVERIES SHOW A WEAK TREND
COALspot.com: Indonesian coal swaps for delivery Q4' 2014 lost month on month and gained day on day and week on week, the trend was same as las ...
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- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- PTC India Limited - India
- Indian Oil Corporation Limited
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
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