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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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Thursday, 04 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
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