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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, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
Thursday, 07 May 20
UKRAINE PRODUCES 2.5 MLN TONNES OF COAL IN APRIL - UKRINFORM
Ukraine produced 2.5 million tonnes of coal in April 2020, which is 39% less than planned, according to the Coal Miners Union of Ukraine.
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Thursday, 07 May 20
INDIA: GOVT TO DO AWAY WITH MANDATORY WASHING OF COAL FOR THERMAL POWER UNITS - BUSINESS STANDARD
The Centre is planning to do away with the mandatory requirement of washing of coal before it is transported to thermal power stations. The Ministr ...
Thursday, 07 May 20
CIL'S SUPPLY TO POWER SECTOR FALLS IN MARCH AMID SLUMP IN COAL DEMAND - PTI
The supply of coal to the power sector by state-owned CIL registered a decline of eight per cent to 42.30 million tonne in March in the wake of slu ...
Thursday, 07 May 20
COAL PRICE REFERENCE FALL SHARPLY IN MAY 2020 DUE TO CORONAVIRUS OUTBREAK
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- The University of Queensland
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
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