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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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Tuesday, 26 January 16
OUTLOOK FOR GLOBAL OIL MARKETS - OPEC SECRETARY GENERAL
Opening address by HE Abdalla S. El-Badri, OPEC Secretary General, at the Chatham House Conference: Middle East and North Africa Energy 2016, Theme ...
Monday, 25 January 16
5700 GAR COAL INDEX CLOSED $ 50.08 PER TON, $0.20 LOWER FROM LAST WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 1.35 percent week over week to averaging $39.39 per ton on this past Friday, ...
Monday, 25 January 16
SHOULD A DEFAULTING PARTY BE ENTITLED TO AN INNOCENT PARTY'S SAVING, FOLLOWING THEIR BREACH OF CONTRACT? - THE NEW FLAMENCO REVISITED
KNOWLEDGE TO ELEVATE
This case was addressed by the club in our of January 2015, when the High Court decision became available. The background ...
Monday, 25 January 16
DRY BULK SHIPPING: A MISERABLE START TO A NEW YEAR, WHERE THE MARKET STRUGGLES TO GROW AT ALL - BIMCO
The global production of steel dropped in 2015 compared to 2014, to a larger extent outside China, as China exported its surplus of steel to destin ...
Sunday, 24 January 16
PANAMAX MARKET WEAKENS ACROSS THE BOARD
COALspot.com: The Baltic Dry Index, which gauges the cost of shipping dry bulk including iron ore, cement, grain, coal and fertiliser, fell ninetee ...
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- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- The Treasury - Australian Government
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
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