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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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Saturday, 11 January 20
BALTIC BRIEFING TANKER REPORT - WEEK 2
VLCC
Escalating tensions between the USA and Iran, in addition to a continuing strong market, made for an interesting week, with rates firming ...
Saturday, 11 January 20
SUPRAMAX: INDONESIA COAL RUNS, A 58,000DWT SHIP WAS RUMOURED FIXED DELIVERY KALIMANTAN, REDELIVERY WEST COAST INDIA, IN THE $4,000S - BALTIC BRIEFING
Capesize
Closing out the first full trading week of 2020, the Capesize market is struggling to gain any solid positive upward traction. Opening ...
Friday, 10 January 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remains flat
China’s benchmark power coal price remained flat during the past week.
...
Thursday, 09 January 20
NEW IMO LIFEBOAT REQUIREMENTS ENTER INTO FORCE - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Three new compulsory IMO resolutions entered into force on 1 January 2020. These resolutions deal with the maintenance, t ...
Thursday, 09 January 20
INDIA'S NEW EASED MINING RULES TO ENHANCE FOREIGN PARTICIPATION IN COAL SECTOR: MINISTER
India’s cabinet has eased mining laws in a bid to attract foreign players to the domestic coal sector and reduce imports of the fuel, coal mi ...
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- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- PTC India Limited - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
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