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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, 28 August 18
COURT CONCLUDES DELIVERY MADE IN ACCORDANCE WITH TERMS OF LOIS - INCE&CO
Glencore Agriculture BV v Navig8 Chemicals Pool Inc (Songa Winds) [2018] EWCA 1901 (Civ)
In this case, the Commercial Court fo ...
Tuesday, 28 August 18
SUPRAMAX: A COAL TRIP VIA INDONESIA PAID $13,500 ON A 56,000DWT TO WC INDIA - BALTIC BRIEFING
Capesize
The Singapore holiday mid-week disrupted trading and unsettled the market, with owners losing some resilience. The market took on a la ...
Tuesday, 28 August 18
SHIPPING MARKET UPDATE - GEORGE LAZARIDIS
As we edge close to the start of the Autumn Season, a period within the year that is usually characterized as the pivot point from the final quarte ...
Friday, 24 August 18
KOREAN RESTRICTIONS ON COAL SULPHUR IMPACTING HUNTER EXPORTS - THE HERALD
WARNINGS that Korean restrictions on sulphur levels in coal could hurt the Hunter industry appear to have been accurate, according to a report in t ...
Thursday, 23 August 18
RUSSIA'S MECHEL PRODUCED 9.69 MMT OF RUN-OF-MINE COAL IN 1H'2018
Mechel PAO, one of the leading Russian mining and metals companies, announces 1H2018 operational results.
Mechel PAO’s Chief E ...
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- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Posco Energy - South Korea
- VISA Power Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
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