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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, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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