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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, 05 May 20
SUPRAMAXES: YTD SLIDE HAS BEEN 45%, WITH THE AVERAGE FOR 2020 TCA HOLDING AT US$5,793 - ALLIED
It has been almost three months since the WHO officially categorized the current coronavirus outbreak as a global pandemic, an outbreak that has br ...
Monday, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
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- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- White Energy Company Limited
- Bharathi Cement Corporation - India
- The University of Queensland
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Minerals Council of Australia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
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