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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, 27 November 18
PANAMAX AND SUPRAMAX INDICES WITNESSED A DECLINE OF JUST BELOW 14% IN THEIR MEAN ON A MONTH-ON-MONTH COMPARISON - ALLIED SHIPPING
A month of sharp corrections and great asymmetries for the dry bulk sector, with the overall overview of the market shipping rapidly from a state o ...
Monday, 26 November 18
SUPRAMAX: THE ASIAN MARKET STALLED THIS WEEK WITH A BUILD-UP OF TONNAGE - BALTIC BRIEFING
Capesize
It was a positive end to the week, with West Australia/China making significant gains and firing owners’ resolve. There was talk ...
Friday, 23 November 18
GOLDEN ENERGY'S POTENTIAL ACQUISITION OF STANMORE CREDIT POSITIVE - FITCH RATINGS
Golden Energy and Resources Limited's (GEAR, B+/Positive) potential acquisition of Stanmore Coal will help the company diversify its coal opera ...
Friday, 23 November 18
ASSOCIATION CALLS FOR REVISION OF DMO SCHEME FOR COAL - JP
The Indonesian Coal Mining Association (APBI) has called on the government to revise the domestic market obligation (DMO) scheme for coal, which re ...
Friday, 23 November 18
INDONESIA'S REVENUES FROM MINERAL AND COAL INCREASE TO US$ 2.858 BILLION - ANTARA
Indonesia`s non-tax state revenues from the mineral and coal sub-sector reached Rp 41.77 trillion (approximately US$ 2.858 Billion) as of Nov 16, 2 ...
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- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
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