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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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Wednesday, 16 July 14
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
Wake me up when September ends - Theodore Ntalakos
Since last September most thought that the worst was behind us. It looks like the market de ...
Tuesday, 15 July 14
INDONESIA'S TOTAL COAL PRODUCTION REACHED ANOTHER HIGH DURING THE FIRST SIX MONTHS; GOVERNMENT EXPECTED TO RAISE ROYALTIES
COALspot.com: Indonesia's total coal production reached 213 million tons during January through June, up by 7.6 percent y-o-y. Coal output in I ...
Monday, 14 July 14
THE END OF THE ERA OF HEAVY FUEL OIL IN MARITIME SHIPPING - ICCT
KNOWLEDGE TO ELEVATE
Since the 1960s, heavy fuel oil (HFO) has been the king of marine fuels. Viscous, dirty, yet inexpensive and widely avail ...
Monday, 14 July 14
SGX SUB-BIT FOB INDONESIA COAL SWAP FOR Q4' 14 DELIVERY CLOSED AT $ 54.80
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 14 July 14
SGX CFR SOUTH CHINA COAL SWAP FOR Q3' 14 LOST 17.29% SINCE EARLY JANUARY 2014
COALspot.com: Coal price falling is continues as the impact oversupply and lower demand. API 8 CFR South China Coal swap for delivery in Q3 drops U ...
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- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- The University of Queensland
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
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