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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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Monday, 23 June 14
COAL SWAPS DROPS FURTHER MONTH ON MONTH ON WEAK DEMAND
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 6.91 percent month on month and closed at US$ 69.00 per mt a ...
Sunday, 22 June 14
THE PANAMAX COAL FREIGHT FROM INDONESIA TO INDIA SLIPPED THIS WEEK
COALspot.com: The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Friday ...
Friday, 20 June 14
DRY BULK MARKET LOOKING FOR UPSIDE ON ROBUST SEABORNE IRON ORE TRADE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn’t been able to justify the heightened expectations this year. Yesterday, the Baltic Dry Index managed to inch forwar ...
Friday, 20 June 14
US WEEKLY COAL PRODUCTION DROPS 1.8% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 18.3 million short tons (mmst) of coal in a ...
Thursday, 19 June 14
PANAMAX: VERY CLOSE TO BREAKING THE ALL TIME LOW RECORD - FEARNLEYS AS
Handy
The Supra-Handy market is experiencing the same market slow down as its bigger sister markets however not to the same extent. We see TA rat ...
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- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
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