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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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Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
Saturday, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
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- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
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