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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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Friday, 06 July 18
COAL PRICES HAVE REMAINED STRONG BUT ARE SET TO DECLINE - NAB
Coal spot prices have been highly volatile in recent years, with an upward trend since recent lows in April 2018, National Australia Bank says in i ...
Friday, 06 July 18
HOW FLEET SIZE, CORPORATE PROFILE AND STRATEGY ARE DECIDING FACTORS IN SELECTING AN APPROPRIATE FINANCING STRATEGY - PWC
KNOWLEDGE TO ELEVATE
The challenges that shipping companies are facing when selecting an appropriate financing strategy during the current per ...
Friday, 06 July 18
INDIA: GOVT TO RELAX CURBS ON INDIAN FIRMS CHARTERING FOREIGN SHIPS - HINDU BUSINESS LINE
The Ministry of Shipping is clearly in reform mode. On the heels of the recent relaxation of the cabotage law, which allows foreign flag vessels to ...
Friday, 06 July 18
AUSTRALIAN NEWCASTLE SPOT COAL PRICES HIT $120 FOR 1ST TIME SINCE 2012 - REUTERS
Australian thermal coal prices have broken through $120 per tonne for the first time since 2012, driven up by strong consumption in Asia and spot m ...
Thursday, 05 July 18
WHAT THE FAILED GLENCORE-TOHOKU COAL TALKS MEAN FOR THE MARKET - REUTERS
Electric utilities in Japan and other Asian countries are driving blind when it comes to coal prices after the failure of Japan’s Tohoku Elec ...
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- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
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