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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, 03 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
The global shipping industry is facing numerous challenges at a time when geopolitical turmoil has escalated in view of the recent tension in the M ...
Monday, 01 July 19
COAL DEMAND RISES, BUT REMAINS BELOW PEAK LEVELS - FORBES
This article is the third in a series on BP’s recently-released Statistical Review of World Energy 2019. The Review provides a comprehensive ...
Saturday, 29 June 19
ULTRAMAX: FROM SOUTHEAST ASIA MORE COAL WAS ENTERING THE MARKET - BALTIC BRIEFING
Capesize
The market showed variability over the past week, as most routes were active yet sentiment differed from region to region. The Pacific ...
Wednesday, 26 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the first half of the year is almost over, it is worth looking back at the sale and purchase activity during these months, focusing on the segme ...
Tuesday, 25 June 19
THERMAL COAL FUTURES ON THE ZHENGSHOU EXCHANGE ROSE - DANIEL HYNES
Coal markets were buoyed by ongoing supply side issues.
According to Daniel Hynes, Senior Commodity Strategist of ANZ, the the ...
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- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
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