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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, 12 May 20
A GLOBAL ECONOMIC RESTART HAS SLOWLY BEGUN AS COUNTRIES AROUND THE WORLD GRADUALLY - ALLIED
A global economic restart has slowly begun as countries around the world gradually set their return back to “normality”. Yet by all mea ...
Tuesday, 12 May 20
CAN INDONESIA'S COAL INDUSTRY SURVIVE COVID-19? : IEEFA
Pandemic Lockdown and Slumping Prices Put Extreme Pressure on Coal Miners
Executive Summary
While attention has been focused on th ...
Tuesday, 12 May 20
INDIA'S COAL PRODUCTION TO CLOCK RECORD 700 MILLION TONNES IN FY21: COAL SECRETARY - PTI
Coal Secretary Anil Jain said FY20 coal production was lower than the target of 660 million tonnes because of flooding of a key coal mine.
&nbs ...
Monday, 11 May 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Monday, 11 May 20
CORONAVIRUS PUTS MORE THAN A THIRD OF SEABORNE COAL SUPPLY AT RISK - WOOD MACKENZIE
The full impact of the coronavirus outbreak on the global economy is yet unclear. However, the demand destruction is already becoming evident, with ...
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- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- The University of Queensland
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
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