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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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- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- London Commodity Brokers - England
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
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