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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, 13 February 19
MALAYSIA WAS THE REGION'S LARGEST COAL IMPORTER WITH 34 MT IN 2018, UP 25% Y-O-Y
Although coal market in 2018 started with strong prices, starting in the beginning of the second half of 2018, the international spot prices for co ...
Wednesday, 13 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
If there is one word that can describe the current shipping environment then that this word is most probably “volatility.” The sentimen ...
Saturday, 09 February 19
SUPRAMAX: A 63,000-TONNER WAS REPORTED FIXED DELIVERY FOR AN EAST KALIMANTAN TRIP, REDELIVERY WEST COAST INDIA, AT $9,250 - THE BALTIC BRIEFING
Cape
The Vale disaster weighed heavily on the market for big ships, with uncertainty about shipments/future exports leading to a sharp drop in ...
Friday, 08 February 19
LOWER-QUALITY INDONESIA EXPORTS ROSE 39 MT IN 2018 YOY PRIMARILY IN RESPONSE TO INCREASED DEMAND FROM CHINA AND INDIA - PEABODY
"Underlying seaborne met and thermal coal conditions remain quite positive and the pace of U.S. coal-fueled power plant retirements is expecte ...
Thursday, 07 February 19
QATAR CAN GAIN FROM DECLINING COAL - THE PENINSULA
With North America and Europe closing down their old coal and nuclear plants, major gas exporters like Qatar can and should gain market share. With ...
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- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Australian Coal Association
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
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