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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, 25 July 18
TANKER MARKET INSIGHT - DIMITRIS KOURTESIS
We are now into the second half of 2018, which so far has not been a fruitful year for tankers. With 2020 quickly approaching we need to consider t ...
Tuesday, 24 July 18
TANKER MARKET : IN TERMS OF TRADE, THE STEPS THAT WERE SLOWLY BEING TAKEN BY OPEC AND RUSSIA - GEORGE LAZARIDIS
Despite the fact that the tanker market still seems to be in the midst of a perfect storm, there are still strong indicators that better sailing da ...
Thursday, 19 July 18
VINACOMIN PRODUCES OVER 20 MLN TONNES OF RAW COAL FROM YEAR'S START - VNA
The Vietnam National Coal and Mineral Industries Group (Vinacomin) has produced over 20 million tonnes of raw coal and 19.3 million of clean coal f ...
Wednesday, 18 July 18
INDONESIA TO AUCTION 16 MINING SITES - JP
Indonesia will soon auction 16 mining sites as no proposal submissions have been submitted by state-owned enterprises (BUMN) and regional administr ...
Wednesday, 18 July 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
The new regulations for Chinese flag restricting import of Tier I ships have dominated market sentiment during the past days as buyers have been tr ...
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- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Australian Coal Association
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
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