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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, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
Thursday, 24 October 19
PANAMAX: NEGATIVE SENTIMENT IN THE MARKET AS IT CONTINUES TO WEAKEN - FEARNLEYS
Capesize
The market has continued to slide the last week, as lack of fresh requirements and a slight oversupply of tonnage heading towards Sout ...
Wednesday, 23 October 19
CHINA'S 2019 COAL IMPORTS SET TO RISE MORE THAN 10%: ANALYSTS - REUTERS
China, the world’s top coal buyer, is on track to boost imports of the fuel by more than 10% this year, traders and analysts said on Tuesday, ...
Wednesday, 23 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
Moving closer to the end of the year, we are facing what the market was expecting for quite a while, the ship repair sector booming with the shipya ...
Tuesday, 22 October 19
DRY BULK: DESPITE THE DOWNWARD CORRECTION NOTED OVER THE PAST MONTH, RATES ARE STILL HOLDING OFF AT FAVORABLE LEVELS - ALLIED SHIPPING
Despite the downward correction that has been noted in the dry bulk market over the past month, rates are still holding off at favorable levels. Ev ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- PTC India Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
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