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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, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
KOREA SOUTHERN POWER CO INVITED 80000 MT OF LOW CALORIFIC VALUE COAL FOR AUGUST 1H, 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) Min 4,200 kcal/kg - Max. ...
Tuesday, 16 June 20
A GLOBAL ECONOMIC SLUMP: WHAT WILL IT MEAN FOR METALS AND MINING? - WOOD MACKENZIE
Back before coronavirus knocked “normal” out cold, the key issues for miners were sub-investment prices, rising requirements for ESG an ...
Tuesday, 16 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
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