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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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Wednesday, 31 July 19
INDIA'S 2019 THERMAL COAL IMPORTS SEEN AT 180-185 MLN T - WOODMAC
India is expected to import 180-185 million tonnes of thermal coal in 2019, said Dale Hazelton, head of thermal coal at consultancy Wood Mackenzie. ...
Wednesday, 31 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
It was a fairly busy week in the dry S&P market. Despite the ease of Capesize rates which impacted Panamaxes as well, interest from potential b ...
Sunday, 28 July 19
ULTRAMAX - INDONESIAN COAL CARGOES SAW A 63,000DWT SHIP FIXING DELIVERY FOR A SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY CHINA, AT $11,700 - BALTIC BRIEFING
Capesize
The market was a white knuckled ride this past week as a large downside movement shed value quickly leaving many in bewilderment. The ...
Wednesday, 24 July 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.27 PCT - XINHUA
China Taiyuan coal transaction price index stood at 138.78 points Monday, down 0.27 percent week on week.
The index, released by Chi ...
Wednesday, 24 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
Tonnes of ink has been spent analysing the rebound of the dry bulk market the last weeks with the most representative example being the rising perf ...
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- The State Trading Corporation of India Ltd
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Planning Commission, India
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
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