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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, 18 September 14
INDONESIA'S JULY COAL EXPORT VOLUME DROPPED 5.13% M-O-M
COALspot.com: Indonesia, one of the world's largest coal producer and the global leading multi grade coal exporter shipped around $1.65* ...
Thursday, 18 September 14
PANAMAX : US GULF/CHINA FRONTHAUL ARE NOW PAYING TYPICALLY 14.5K + 450K BB - FEARNRESEARCH
Handy
We still see a firming tendency in the Atlantic and it is still ECSA and USG leading on. USG/Cont now up in about USD 17/18k for a Smax whi ...
Thursday, 18 September 14
ELECTRONIC BILLS OF LADING: A GUIDE TO PAPERLESS TRADING WHICH HAS TAKEN THE SHIPPING INDUSTRY BY STORM
Bimco has recently developed and published a charter party clause that specifically addresses the use of electronic bills of lading. Increasing use ...
Wednesday, 17 September 14
PANAMAX: LIMITED INTEREST IN BOTH BASINS; RISING TONNAGE - INTERMODAL
With the week starting off at a fast pace and with the positive momentum from the previous Friday seemingly sticking around for a bit longer, most ...
Wednesday, 17 September 14
SHIPPING MARKET INSIGHT - GEORGE LAZARIDIS
Since the onslaught of 2013 the rising tide of asset prices had been primarily driven by the increasing freight market conditions and the improving ...
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- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Siam City Cement - Thailand
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Planning Commission, India
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
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