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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 ...
Monday, 01 June 20
SUPRAMAX: IN SOUTH EAST ASIA RATES TRADED SIDEWAYS - BALTIC BRIEFING
Capesize
A sober end to the week, with the market seemingly ready for the weekend. After a steady week of rate declines a small flurry of Atlan ...
Friday, 29 May 20
COVID-19: COAL SUPPLY BY CIL TO POWER SECTOR DIPS 22% TO 32 MT IN APRIL DUE TO DEMAND SLUMP - PTI
Over 95% of CIL’s production comes from its 171 open cast mines.
The supply of coal to the power sector by state-owned Coal In ...
Friday, 29 May 20
AUSTRALIA'S NEW HOPE WARNS OF HIT FROM COAL PRICE SLUMP - REUTERS
Australia’s New Hope Corp Ltd said on Thursday that a sudden drop in thermal coal prices and lower output from its Queensland operations woul ...
Friday, 29 May 20
GOVT MAY LAUNCH COAL BLOCKS AUCTION PROCESS UNDER COMMERCIAL MINING ON JUN 11 - PTI
The Centre is likely to launch the process of coal blocks auction under commercial mining on June 11 and around 50 mines are expected to go under t ...
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- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercator Lines Limited - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
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