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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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Sunday, 26 October 14
CAPE'S STRONG PERFORMANCE PUSHES BDI INDEX UPWARDS
COALspot.com: The BDI was up by 26.27 pct and closed at 1192 points week and week. The Cape size performance has pushed up BDI and Cape size index ...
Friday, 24 October 14
WEEKLY U.S COAL PRODUCTION DOWN 2.7% FOR THE WEEK ENDING OCTOBER 18
COALspot.com – United States the world's one of largest coal producers, produced approximately 18.7 million short tons (mmst) of coal in ...
Thursday, 23 October 14
THE BEARS, HOWEVER, STILL CRY; FOR HOW LONG WILL IT LAST? - FEARNLEYS
Handy
"We experience a typical oversupply of ships in the Atlantic which causing rates to slide. In the USG it is just enough cargoes to kee ...
Wednesday, 22 October 14
MARKET INSIGHT - THEODORE NTALAKOS, INTERMODAL
ECO designs - revisited
The ECO vessels are already here but the oil and bunker prices are plummeting to their cheapest level since 2010. Is this ...
Wednesday, 22 October 14
CAPESIZE MARKET REMAINED UNDER PRESSURE
COALspot.com: The Dry Bulk market closed on the red for yet another week although following Friday sentiment has started to improve on the back of ...
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- Malabar Cements Ltd - India
- MS Steel International - UAE
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
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