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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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Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Indian Energy Exchange, India
- Australian Coal Association
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
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