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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, 24 February 17
RUSSIAN OIL AND GAS WITHSTANDS OIL PRICE SHOCK - FITCH RATINGS
Fitch Ratings says in a new report that the Russian oil and gas sector has withstood the oil price stock of 1H16. Key events of 2016 include record ...
Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
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- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
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