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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, 06 February 19
FEBRUARY 2019 INDONESIA'S COAL REFERENCE PRICE FELL 8.83 PERCENT YOY
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Wednesday, 06 February 19
THE BDI HAS EASED BACK TO 645 BP, ITS LOWEST LEVEL SINCE AUGUST 2016 - ALLIED
The dry bulk sector is in the doldrums, with most market participants seemingly left utterly perplexed, and simultaneously, in pursuit of any posit ...
Monday, 04 February 19
COAL STILL IN HIGH DEMAND GLOBALLY
Although the world is switching to renewable energy there is still a big demand for coal around the globe.
This is according to Cany ...
Friday, 01 February 19
ULTRAMAX WAS FIXED DELIVERY KALIMANTAN, FOR TRIP TO WEST COAST INDIA AT $7,000 - BALTIC BRIEFING
Capesize
The Vale dam tragedy sparked a sharp fall in rates across all regions even where tonnage remained tight. The potential loss of product ...
Friday, 01 February 19
SEMBCORP SELECTS NORDEN FOR LONG-TERM INDIAN CONTRACT
NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 A ...
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- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
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