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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, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- The University of Queensland
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
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