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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, 07 September 14
SHIPMANAGERS SUPERVISION CONTRACT FOR NEWBUILDS - BIMCO
Shipmanagers are frequently called upon by their owner clients to supervise newbuilding projects on their behalf. The scope of the manager’s ...
Saturday, 06 September 14
SLOW COAL EXPORT REGISTRATION RAISES CONCERNS - THE JAKARTA POST
Several coal mining companies have yet to receive the go-ahead from the Energy and Mineral Resources Ministry to obtain exporting licenses, leading ...
Saturday, 06 September 14
DRY BULK MARKET'S PROSPECTS ARE IMPROVING, DESPITE WEAK SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been rebounding during the past month, with the Baltic Dry Index (BDI) ended the week on a high note, reaching 1,155 points ...
Saturday, 06 September 14
INDONESIA WANTS TO REGULATE COAL DEALS - THE TELEGRAPH INDIA
Indonesia has raised concerns about suspected coal deals struck between overseas buyers and its unregistered domestic miners, the telegraph India r ...
Friday, 05 September 14
U.S. PRODUCED 19.2 MMST OF COAL LAST WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
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- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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