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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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Thursday, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Anglo American - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
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