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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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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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