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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Minerals Council of Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Australian Coal Association
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- PTC India Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
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