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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, 02 July 14
HANDY BULKERS PROVE TO BE THE MOST SOUGHT AFTER VESSELS OVER THE PAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Handy dry bulker proved to be the most sought after ship by ship owners active in the second hand market, which saw a slight decline in terms o ...
Wednesday, 02 July 14
SHIPPING: MARKET INSIGHT - GEORGE DERMATIS
After 6 months, 57 ministerial meetings and 67 political agreements, the journey of the Greek Presidency in the EU reached its end yesterday; only ...
Tuesday, 01 July 14
INDIAN POWER PLANT COAL STOCKPILES VERY LOW
COALspot.com: According to today's Weekly Dry Bulk Report published by Commodore Research, Indian power plant coal stockpiles have now fallen t ...
Monday, 30 June 14
SUB-BIT FOB INDONESIA COAL PRICES ARE STILL STRUGGLING TO RECOVER
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on week and on month according to AsiaClear OTC coal swap's reports release ...
Monday, 30 June 14
WEEKLY CFR SOUTH CHINA COAL SWAPS DECLINE CONTINUES; Q1'15 LOST US$ 4.55 PMT IN A WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in Q3 fell US$ 5.25 month on month on Friday, dipping under $69 a tone. The CFR South Ch ...
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- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Australian Coal Association
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
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