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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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Sunday, 22 December 19
NMDC DIVERSIFIES INTO COAL MINING - THE HINDU
Iron ore mining major NMDC has been allocated two coal blocks in Jharkhand for commercial mining by the Union Ministry of Coal.
Both ...
Sunday, 22 December 19
TRADING PLACES FOR 2020 - BALTIC EXCHANGE
In the sea of 2020 predictions, Saxo Bank’s Outrageous Predictions sail their own very unique course. For nearly 20 years the Danish investme ...
Saturday, 21 December 19
SUPRAMAX: A 63,000 DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasi ...
Saturday, 21 December 19
SHIPPING'S SUPPLY AND DEMAND TRENDING OFF BALANCE - BIMCO
One of the most worrying trends that has developed recently – which will affect shipping demand in the years to come – is the falling t ...
Friday, 20 December 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Thai Mozambique Logistica
- PTC India Limited - India
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
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