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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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Friday, 29 May 20
KOMIPO ON BEHALF FIVE KOREAN GENCOS INVITED COAL BIDS FOR 5,700 & 4999 NCV COAL FOR AUGUST 2020 LOADING
COALspot.com: South Korea’s Korea Midland Power Co.,Ltd (KOMIPO) on behalf five (5) Korean Gencos has Issued an International Tender for tota ...
Friday, 29 May 20
DRY BULK SHIPPING: NO QUICK RECOVERY FOR THE DRY BULK MARKET AS COVID-19 DIGS DEEPER
The outlook is poor for dry bulk, as the negative demand shock and overcapacity come together to send rates to multi-year lows, even a return to wo ...
Thursday, 28 May 20
COVID-19: A FORCE MAJEURE EVENT? - KYPRIANOU
KNOWLEDGE TO ELEVATE
While seeing the unexpected COVID-19 outbreak expanding worldwide and the first cases being identified in Cyprus, the com ...
Thursday, 28 May 20
OIL DEMAND RECOVERED BY 20% IN MAY AGAINST APRIL: RUSSIAN ENERGY MINISTER - TASS
Oil demand remains at a low level but the demand in May increased by 20% against April, Russian Energy Minister Alexander Novak said, cited by the ...
Thursday, 28 May 20
MARKET INSIGHT - INTERMODAL
Earlier in May, China’s top leaders convened for the annual National People's Congress, following over two months of delays due to the co ...
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- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- White Energy Company Limited
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Australian Coal Association
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
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