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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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Saturday, 09 May 20
ANGLO AMERICAN CONSIDERS SPINNING OFF SOUTH AFRICAN COAL OPERATIONS - REUTERS
Diversified miner Anglo American said on Thursday it prefers unbundling and listing its thermal coal operations in South Africa on the Johannesburg ...
Friday, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
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- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- The University of Queensland
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- PTC India Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Minerals Council of Australia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
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