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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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Wednesday, 24 October 18
MARKET INSIGHT - NASSOS SOULAKIS
Looking at 2018 SnP activity, it is evident that Greek, Chinese and North European (German and Norwegian) owners are the top buying nationalities, ...
Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...
Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?
Adding to its controversial plan to leverage federal authority to keep retiring baselo ...
Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...
Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...
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- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
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