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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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Monday, 02 July 18
THIESS SECURES NEW QCOAL NORTHERN HUB $480M CONTRACT
Thiess has been awarded a new A$480 million contract by QCoal to continue operations at the QCoal Northern Hub located in Queensland’s Bowen ...
Friday, 29 June 18
THE LBH GROUP AND RHENUS PLAN TO ESTABLISH A JOINT COMPANY
Press Release: The port services provider, the LBH Group, and the logistics specialist Rhenus, are planning to cooperate closely in the European in ...
Friday, 29 June 18
SUPRAMAX: INDO / CHINA COAL ROUNDS PAYING AROUND USD HIGH 11000 - FEARNLYS
Capesize
Its been an interesting week with a strong demand for ships out of Brazil, making C3 rates remain around USD 19 pmt said Fearnlys in i ...
Friday, 29 June 18
JAPAN'S TOHOKU ELEC, GLENCORE ABANDON APRIL-MARCH COAL CONTRACT TALKS - REUTERS
Japan’s Tohoku Electric Power Co Inc and Glencore Plc have abandoned talks on annual thermal coal supplies after failing to reach an agreemen ...
Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a numb ...
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- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Planning Commission, India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
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