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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, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
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- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- The University of Queensland
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
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