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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, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Cement Manufacturers Association - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
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