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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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Monday, 29 October 18
IMPLEMENTATION OF SULPHUR 2020 LIMIT - CARRIAGE BAN ADOPTED - IMO
An amendment to support consistent implementation of the forthcoming 0.50% limit on sulphur in ships fuel oil was adopted by the International Mari ...
Monday, 29 October 18
SUPRAMAX: THE ASIAN AREA SAW FALLING RATES, WITH A 61,000DWT FIXING DELIVERY KOHSICHANG TRIP VIA INDONESIA, REDELIVERY INDIA, AT $10,500 - BALTIC BRIEFING
Capesize
A market of two halves for most of the week with rates in the Atlantic firming and easing in the East for most of the week, but then, ...
Friday, 26 October 18
SHIP OPERATING COSTS EXPECTED TO RISE IN 2018 AND 2019 - MOORE STEPHENS
Total vessel operating costs in the shipping industry are expected to rise by 2.7% in 2018 and by 3.1% in 2019, according to our latest survey.
...
Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
World Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September. T ...
Thursday, 25 October 18
WHAT DOES THE "IMO 2020" REGULATION REALLY SAY? A QUICK GUIDE - BIMCO
KNOWLEDGE TO ELEVATE
The shipping industry has all eyes firmly fixed on the topic, but what exactly do the “IMO 2020” global sulph ...
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- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- The University of Queensland
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
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