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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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Saturday, 28 March 20
ASIA'S COAL MARKETS DIVERGE ON QUALITY LINES AS CORONAVIRUS HITS INDIA - REUTERS
Asia’s seaborne coal market is increasingly diverging between higher-quality Australian coal, where prices are holding up despite the economi ...
Friday, 27 March 20
CHINA'S BULKS: THE SENTIMENT GAP BETWEEN STEEL AND COAL WIDENS - WOOD MACKENZIE
China seems to be containing its local coronavirus situation, with imported cases now posing the greater threat. While quarantine measures remain t ...
Friday, 27 March 20
S.KOREA Q1 THERMAL COAL IMPORTS SET FOR 10-YR LOW ON ANTI-POLLUTION MEASURES - REUTERS
South Korea’s first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronaviru ...
Friday, 27 March 20
PORT OF NEWCASTLE OPERATIONS CONTINUE WITH COVID-19 RESPONSE MEASURES IN PLACE
Port of Newcastle, like many organisations, is taking a precautionary approach to help manage COVID-19 risks in the community. Our focus is on ensu ...
Thursday, 26 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- The University of Queensland
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
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