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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, 12 June 19
IMO 2020 - COUNTDOWN TO 1 JANUARY 2020 -HOW WILL THE CHANGES AFFECT REFINING AND SHIPPING? - WOOD MACKENZIE
We know that the IMO’s regulations represent the biggest step change the shipping industry has ever seen and the implications will be felt th ...
Wednesday, 12 June 19
SHIPPING MARKET INSIGHT - INTERMODAL
This year’s tanker S&P activity keeps edging higher compared to the same period in 2018. Year to date we have seen some 143 ships, rangin ...
Tuesday, 11 June 19
INDONESIAN COAL PRICE REFERENCE SET AT $81.48 PER TON IN JUNE, DOWN 15.66 PERCENT YEAR-ON-YEAR
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 10 June 19
CONSECUTIVE OWNERS OF CARGO: WHO HOLDS TITLE AND THE RIGHT TO SUE? - COLIN BIGGERS & PAISLEY
KNOWLEDGE TO ELEVATE
In Tritton Resources Pty Ltd v Ever Rock Navigation S.A. [2019] FCA 276, the Federal Court considered the application of ...
Monday, 10 June 19
KOSPO INVITES BIDS FOR 1,305,000 MT OF MIN 5600 KCAL/KG NCV COAL FOR SEPT 2019 TO DEC 2021
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 435,000 MT (per year) of max 5,600 kcal/kg N ...
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- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Central Electricity Authority - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
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