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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 March 15
MARKET INSIGHT: TANKER CHARTERING - KATERINA RESTIS
The 1st of January 2015, as broadly reported, denoted the beginning date of new and progressive emission regulations for vessels operating within t ...
Wednesday, 25 March 15
AUSTRALIA SET TO ONCE AGAIN BE THE WORLD'S LARGEST COAL EXPORTER - COAL, MINERALS COUNCIL OF AUSTRALIA
Greg Evans, Executive Director - Coal, Minerals Council of Australia
Media Release: The latest Resources and Energy Quarterly published by the ...
Wednesday, 25 March 15
AUSTRALIA UPSTREAM ENERGY FIRMS FACE RISING OIL PRICE EXPOSURE - FITCH
Fitch Ratings says the Australian oil and gas companies involved in exploration and production face higher exposure to oil price-linked revenues, w ...
Wednesday, 25 March 15
2014 : UK COAL IMPORTS DECLINED 17%; GERMANY COAL IMPORTS UP 6%
Hard Coal Market 2014: Despite The Energy Turnaround, Hard Coal Imports To Germany Rise By More Than 6%, Although Hard Coal-Fired Power Generation ...
Tuesday, 24 March 15
A WEAK WEEK FOR FOB INDONESIA COAL SWAP
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 2.48 (5.12%) month ...
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- London Commodity Brokers - England
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
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