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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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Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
Friday, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
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- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Planning Commission, India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
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