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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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Thursday, 06 December 18
CHINA REVISES MANAGEMENT RULES ON ESTABLISHMENT OF FULLY FOREIGN-OWNED SHIPPING BUSINESSES - XINHUA
Foreign shipping companies will find it easier to establish wholly-owned subsidiaries in China thanks to a revised regulation due to take effect on ...
Wednesday, 05 December 18
WORLD COAL PRICES FALL, WITH INDONESIA BENCHMARK FOR DECEMBER, ENDING AT LOWEST SINCE JUNE 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 05 December 18
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
Is the rise in crude carrier rates driven only by seasonality, or is the recent positive reversal signaling the end of challenging days for the mar ...
Monday, 03 December 18
WCA'S ENGAGEMENT AT COP24 IN KATOWICE - WCA
The 24th Conference of the Parties (COP) to the UN Framework Convention on Climate Change (UNFCCC) will take place from the 2-14 December 2018 in K ...
Monday, 03 December 18
SUPRAMAX: FIXED DELIVERY KALIMANTAN TO WEST COAST INDIA, AT $11000 - THE BALTIC BRIEFING
Capesize
A roller-coaster week for the big ships with hopes soaring at the start for a mini last quarter revival, only to be dashed as the week ...
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- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
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