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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, 11 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.07 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points Monday, up 0.07 percent week on week.
The index, released by China ...
Wednesday, 11 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
On the 4th of September the Baltic Dry Index marked its highest level for 2019, reaching 2,518 points, while the rest of the dry indices also recor ...
Tuesday, 10 March 20
SHIPPING MARKET ANALYSIS
It might be already overstated, but it seems to be important to point out once again how peculiar the current circumstances are.
Before the st ...
Tuesday, 10 March 20
EIA FORECASTS U.S ELECTRIC POWER SECTOR DEMAND FOR COAL WILL FALL BY 81 MMST (15%) IN 2020
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019. According to EIA's Shor ...
Tuesday, 10 March 20
CORONAVIRUS: DEMAND DOWNGRADES FOR BULK COMMODITIES - WOOD MACKENZIE
The coronavirus outbreak is a rapidly evolving news story – and a real wildcard for bulks demand. Our global experts are monitoring the impac ...
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- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
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