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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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Thursday, 06 February 20
CHINESE DEMAND KEY UNCERTAINTY FOR SEABORNE COAL MARKET IN 2020 - THE BRICS POST
Coal trader Noble Resources head of research Rodrigo Echeverri Cardozo had penciled in a 3 Mt drop in Chinese import demand for 2020, but it could ...
Wednesday, 05 February 20
CORONAVIRUS AND THE SHIPPING INDUSTRY - WATSON, FARLEY & WILLIAMS
The continued spread of Coronavirus and governmental measures to minimise the impact is likely to affect the shipping industry and supply chain.
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Wednesday, 05 February 20
INDONESIA'S COAL PRICE REFERENCE UP 1.46% IN FEBRUARY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Wednesday, 05 February 20
MARKET INSIGHT - INTERMODAL
The oil and gas industry benefitted from a strong and solid ground in the previous year. We witnessed a slow but steady increase in bunker’s ...
Wednesday, 05 February 20
RUSSIA EXPORTED 28.6 MLN TONNES OF LNG IN 2019 - REFINITIV
A lot of attention has been paid recently on the surge in LNG exports from the United States. However, another country which is seeing truly expone ...
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- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
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