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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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Tuesday, 26 February 19
CHINA RESTRICTS SEABORNE COAL IMPORTS - WOOD MACKENZIE
In response to news on China's Dalian port restricting seaborne coal imports, Wood Mackenzie's experts provide the following commentary.
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Tuesday, 26 February 19
THE RELATIVELY DISAPPOINTING SCENE PORTRAYED IN THE DRY BULK MARKET RIGHT NOW - ALLIED SHIPBROKING
The relatively disappointing scene portrayed in the dry bulk market right now (especially in the Capesize segment) is undoubtedly one of the prevai ...
Friday, 22 February 19
AUSTRALIAN HIGH CV THERMAL COAL PRICES AT 19-MONTH LOW, BUT NOT FOR LONG - WOOD MACKENZIE
The benchmark Newcastle high energy thermal coal price has fallen from US$100/tonne at the turn of the new year to US$88/tonne. Thermal coal has be ...
Wednesday, 20 February 19
EFFECTIVE NOTICES OF ARBITRATION - AVOIDING WASTED COSTS AND A POTENTIALLY TIME-BARRED CLAIM
KNOWLEDGE TO ELEVATE
In a recent case, The Amity [2017], charterers successfully set aside an arbitration award on the basis that ow ...
Wednesday, 20 February 19
SHIPPING MARKET INSIGHT - INERMODAL
Market experts mostly agree that the recent dry bulk market downtrend was caused by seasonal slowdown amid the Chinese New Year celebrations in com ...
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- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Planning Commission, India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Aditya Birla Group - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
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