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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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Wednesday, 25 November 15
BIG CHINESE COPPER PROCESSORS DEFEND MARGINS THROUGH R&D, SAYS FITCH
Large Chinese copper processors are focusing on higher value-added products and investing in R&D to enhance their technical know-how to maintai ...
Wednesday, 25 November 15
BIMCO LAUNCHES ANTI-CORRUPTION CLAUSE FOR SHIPPING CONTRACTS WORLDWIDE
COALspot.com: BIMCO, is the world’s largest international shipping association, with 2,200 members in around 130 countries, has now launched ...
Wednesday, 25 November 15
TANKER MARKET INSIGHT - GEORGE VASTARDIS
We have already noticed obvious signs of activity mainly West of Suez, which are currently driving the clean MR market to higher levels. Over the p ...
Tuesday, 24 November 15
COAL SUPPLY PRESSURE PUTS INDONESIAN HBA IN FREE FALL
The coal industry is slowly recognizing that, the current coal price level is not a decrease in price, but a change in pricing to corresp ...
Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
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- Minerals Council of Australia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
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