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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, 22 November 18
SHUT OUT OF CHINA, U.S. COAL EXPORTERS FIND FAVOUR IN INDIA, FOR NOW - REUTERS
U.S. coal exporters have effectively lost a promising market in China since the imposition of tariffs as part of the ongoing trade dispute, but so ...
Wednesday, 21 November 18
SHIPPING MARKET INSIGHT - DIMITRIS KOURTESIS
Halfway through the fourth and last quarter of the year, we spot a significant change in freight rates for tankers trading dirty, as well as on the ...
Tuesday, 20 November 18
FREIGHT RATES IN THE CRUDE OIL MARKET HAVE ALREADY PICKED UP OVER THE PAST COUPLE OF WEEKS - YIANNIS VAMVAKAS
Current geopolitical developments between Iran and the US, which have led the latter to re-impose its sanctions, have significantly affected oil pr ...
Tuesday, 20 November 18
GOLDEN ENERGY AND RESOURCES LEADS A$249M BID FOR AUSTRALIA-LISTED STANMORE COAL - THE STRAITS TIMES
Singapore-listed Golden Energy and Resources (GEAR) is leading deals worth up to A$249 million (S$250 million) to acquire Australia-listed Stanmore ...
Monday, 19 November 18
INDONESIA'S LEADING EIGHT COAL MINER'S COAL MINING CONTRACTS ARE EXPECTED TO EXPIRE BETWEEN YEAR 2019 - 2025
The Ministry of Energy and Mineral Resources (ESDM) said, eight Coal Contract of Works (CCoW) will expected to expire between 2019 to 2026, Liputan ...
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- PowerSource Philippines DevCo
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
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