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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, 24 August 14
SEA FREIGHT MARKETS STARTING TO LOOK POSITIVE; CAPES DRIVE FREIGHTS HIGHER
COALspot.com: The freight market has strengthen further this week with BDI up 7.19 pct week on week. The BDI was closed at 1,088 points while the B ...
Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in t ...
Friday, 22 August 14
ARBITRATION CLAUSE IN LOU HELD TO REPLACE CHARTERPARTY ARBITRATION CLAUSE
KNOWLEDGE TO ELEVATE
The Claimants had claims for cargo damage against the vessel Owners arising under four bills of lading. The vessel was th ...
Friday, 22 August 14
ICAP ENERGY LAUNCHES GLOBAL COKING COAL DERIVATIVES TRADING
First contract completed and cleared on CME
COALspot.com: ICAP Energy, the energy business of ICAP plc, announces today that it has successful ...
Friday, 22 August 14
U.S WEEKLY COAL PRODUCTION UP 2.4% WEEK OVER WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.60 million short tons (mmst) of coal in ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
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