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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, 29 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
Reflecting on the first quarter of 2019, the product tanker market was healthy, with average earnings significantly up compared to the first quarte ...
Sunday, 26 May 19
SUPRAMAX: A LIMITED ACTIVITY WAS REPORTED, WITH THE UPCOMING INDONESIAN HOLIDAYS SLOWING COAL MOVEMENTS - BALTIC BRIEFING
Capesize
The past week marked one of the busier periods for Capesizes this year. With a subdued start due to a public holiday in Singapore on M ...
Wednesday, 22 May 19
SHIPPING MARKET INSIGHT - INTERMODAL
The ship repair sector is showing a constant and gradual increase on the workload throughout the past months, with almost all the shipyards worldwi ...
Saturday, 18 May 19
SUPRAMAX: 56,000DWT OPEN PANJANG FIXING AT $10,500 FOR A TRIP VIA INDONESIA, AND REDELIVERY CHINA - BALTIC EXCHANGE
Capesize
The market continues to ebb and flow with a generally positive up trend. The Capesize 5TC opened with upward momentum from last week&r ...
Friday, 17 May 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Parliament of New Zealand
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- The University of Queensland
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
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