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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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Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
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- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- PTC India Limited - India
- Eastern Coal Council - USA
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
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