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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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Thursday, 12 June 14
CONSOLIDATION IS THE ' NAME OF THE GAME' WHEN IT COMES TO SHIPYARDS ACROSS ASIA - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Intense competition, a swelling of new greenfield shipyards over the past few years mainly in China, especially prior to the 2008 global financial ...
Wednesday, 11 June 14
INDONESIA'S COAL EXPORT VOLUME AND REVENUE SLIPS 2.75% AND 6.73% RESPECTIVELY IN APRIL
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.8* b ...
Wednesday, 11 June 14
BPI TOUCHING A NEW LOW FOR THE YEAR
The Dry Bulk market closed off the week positively, on the back of firming Capesize rates, while the market overall continues to face a very challe ...
Monday, 09 June 14
GOVT GETS TOUGH ON ILLEGAL MINING, SUSPENDS LICENSES - THE JAKARTA POST
The government has temporarily suspended the licenses of 62 mineral and coal transportation companies as part of its efforts to curb illegal mining ...
Monday, 09 June 14
INDO SUB-BIT COAL SWAPS FOR Q3,Q4 OF 2014 AND Q1 2015: LOST ON DAY AND MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 continue last week’s trend or lost on day, week and on month according to Asia ...
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- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
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