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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, 30 November 19
IMO2020 GLOBAL SULPHUR CUT: GERMAN SHIPPING TO USE NEW TYPE OF FUEL VDR SURVEY
IMO2020 Global sulphur cut: German shipping to use new type of fuel VDR survey: Technical issues and costs are the biggest challenges - VDR
&nb ...
Saturday, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
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- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- VISA Power Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
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