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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, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- The University of Queensland
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
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