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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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Tuesday, 03 March 20
IMPORTANCE OF MASTER'S CARGO CHECKS - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
Adecision in recent High Court case has made it clear that there is no implied indemnity from a charterer to their counte ...
Tuesday, 03 March 20
COAL'S SHARE OF CHINA ENERGY MIX FALLS IN 2019 BUT CONSUMPTION STILL RISING - REUTERS
Coal accounted for 57.7% of China’s primary energy consumption in 2019, the National Bureau of Statistics said on Friday, down 1.5 percentage ...
Monday, 02 March 20
SHIPOWNERS AND OPERATORS COULD FACE DETENTION OF SHIPS FROM 1ST MARCH UNDER IMO RULE - ICS
Port state control authorities will begin to enforce the IMO’s Sulphur 2020 from 1st March, making it an offense for ships to carry fuel that ...
Saturday, 29 February 20
SUPRAMAX SENTIMENT WAS UP IN A FEW KEY AREAS OVER THE LAST WEEK - BALTIC BRIEFING
Capesize
The Capesize market woes related to Coronavirus have now spread through the wider global markets like wildfire. The wider supply and d ...
Thursday, 27 February 20
FOREIGN COMPANIES LIKELY TO SKIP COMMERCIAL COAL BLOCK AUCTIONS - ECONOMIC TIMES
The Centre is in the process of inviting global players for commercial mining, following 100% foreign direct investment in the sector. However, giv ...
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- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Central Electricity Authority - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Parry Sugars Refinery, India
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