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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, 19 February 20
MINERS WELCOME INDONESIA'S NEW JOBS BILL THAT COULD SPUR COAL GROWTH - REUTERS
Miners have welcomed proposed changes to Indonesian mining rules under a new law aimed at boosting investment, though critics are concerned that th ...
Wednesday, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
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- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
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