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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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Wednesday, 06 May 20
KOSPO INVITED COAL BIDS FOR LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 160,000 Metric Tons (MT) Low Calorific Value Coal for J ...
Wednesday, 06 May 20
COST CHALLENGES IN A US$20/BBL WORLD - WOOD MACKENZIE
A new approach is needed to ensure supply sector resilience
How will US$20/bbl affect the oil and gas supply chain?
It’s going to g ...
Wednesday, 06 May 20
MARKET INSIGHT - INTERMODAL
It comes as no surprise that activity in the dry bulk SnP market remains soft, with asset values caught in the downward spiral generated by the Cov ...
Wednesday, 06 May 20
FLOATING STORAGE OF OIL CARGOES - STANDARD CLUB
KNOWLEDGE TO ELEVATE
Due to a combination of circumstances there is now a worldwide shortage of storage space ashore for both unrefi ...
Wednesday, 06 May 20
IRON ORE TRADE REMAINS REMARKABLY RESILIENT THIS YEAR, AT LEAST IN ASIA - BANCHERO COSTA
Iron ore trade remains remarkably resilient this year, at least in Asia, despite the global economic impact from COVID-19. In the first 4 months of ...
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- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Planning Commission, India
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
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