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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, 14 May 20
OPEC REVISES DOWN GLOBAL OIL DEMAND FORECAST AGAIN
Crude Oil Price Movements
Crude oil prices recorded a second sharp monthly drop in April, amid an increasing oil surplus in the spot market. Th ...
Thursday, 14 May 20
NEW COVID-19 GUIDELINES FOCUS ON SAFE INTERFACE BETWEEN SHIP AND SHORE STAFF - GARD
At a time when the COVID-19 pandemic is affecting the global population, it is important that ships’ crew and port workers protect each other ...
Wednesday, 13 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.4 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.93 points Monday, down 0.4 percent week on week.
The index, released by Chin ...
Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of ...
Tuesday, 12 May 20
OIL MARKET TURBULENCE PIVOTS FOCUS ON FLOATING STORAGE TECHNICAL NEEDS - LLOYD'S REGISTER
KNOWLEDGE TO ELEVATE
Negative oil prices and off-the-scale volatility in crude markets are positive for floating storage, as the next chapter ...
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- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Economic Council, Georgia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
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