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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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Friday, 11 January 19
SUPRAMAX: THE ASIAN ARENA HAD A MIXED START; LIMITED ACTION IN SOUTHEAST ASIA - THE BALTIC BRIEFING
Capesize
Dashed hopes summed up the first full week of the New Year. A slow start followed by a busy 24 hours of improving rates and a firming ...
Thursday, 10 January 19
BUNKER DELIVERY NOTE AMENDMENTS ENTER INTO FORCE AS SULPHUR 2020 REQUIREMENT LOOMS - IMO
KNOWLEDGE TO ELEVATE
Amendments to the bunker delivery note relating to the supply of marine fuel oil to ships which have fitted alternative m ...
Thursday, 10 January 19
WORLD TRADE IN THERMAL COAL IS ESTIMATED TO HAVE GROWN BY 1.0 PER CENT IN 2018 - DEPARTMENT OF INDUSTRY, AUSTRALIA
World Trade
World trade in thermal coal is estimated to have grown by 1.0 per cent to 1.1 billion tonnes in 2018 but it is expected to decline ...
Thursday, 10 January 19
PAKISTAN'S COAL IMPORTS TO SURGE TO 30 MILLION TONS PER ANNUM BY 2020 - CEO, PIB
Pakistan’s coal imports are estimated to surge to 30 million tons/annum from existing 20 million tons/annum by the year 2020, given the plann ...
Wednesday, 09 January 19
PANAMAX: THE PACIFIC SAW RELATIVELY GOOD DEMAND PARTICULARLY FROM INDONESIA AND NOPAC - BALTIC BRIEFING
Capesize
It was an active start to the New Year, with trading from West Australia maintaining momentum during the holiday period. Rates for Chi ...
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- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
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