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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, 13 August 14
WEEKLY MARKET INSIGHT - KONSTANTINOS KONTOMICHIS SNP BROKER
Being at the peak of the holiday season, August is, as usual, the quietest month in terms of snp transactions, yet it is also a time very critical ...
Wednesday, 13 August 14
WHAT DOES PROJECT CARGO REALLY MEAN TO INSURERS?
KNOWLEDGE TO ELEVATE
Richard Kamppari-Baker, claims manager of FP Marine Risks, explains the challenges of project cargo risk assessment from ...
Wednesday, 13 August 14
INDONESIAN COAL PRICE REFERENCE FALL AGAIN CLOSE TO 57 MONTHS LOWS
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price in August. HBA for the month of A ...
Monday, 11 August 14
LARGEST CHINESE TRADE SURPLUS EVER RECORDED IN JULY - BIMCO
China recorded a trade surplus of USD 47.3 billion in July 2014. The record high surplus came on the back of very strong export growth while import ...
Monday, 11 August 14
INDONESIAN THERMAL COAL SWAPS SEEING SOME POSITIVE TREND
COALspot.com: Indonesian coal swaps for average September 2014 increased US$ 0.20 (+0.36%) day on day and US$ 1.30 (+2.41%) per mt week on week. Th ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Renaissance Capital - South Africa
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Planning Commission, India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
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