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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, 24 March 20
THE TRIPLE SHOCK OF CORONAVIRUS IN SHIPPING: WILL IT LAST? - DREWRY
Transport capacity shortages, disruptions to supply chains and inability to plan since late January have been a dangerous combination. But will all ...
Tuesday, 24 March 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.28 PCT - XINHUA
China Taiyuan coal transaction price index stood at 132.74 points Monday, down 0.28 percent week on week.
The index, released by Chi ...
Monday, 23 March 20
CHARTERPARTY REQUIREMENTS TO NOTIFY CLAIMS - TAKE CARE! - WFW
KNOWLEDGE TO ELEVATE
Voyage charterparties frequently require the owner to notify any claim with supporting documents within a relatively shor ...
Monday, 23 March 20
COAL INDIA LIMITED'S ONE-DAY OUTPUT PEAKS AT 3.17 MT - THE HINDU
Coal India Limited (CIL) output peaked at a new high of 3.17 million tonnes (MT) on March 20, overtaking the 3.14 MT production recorded on March 2 ...
Monday, 23 March 20
KOMIPO INVITED BIDS FOR 1.45 MILLION TONS OF COAL FOR JUNE & JULY 2020 LOADING
COALspot.com: Korea Midland Power Co.,Ltd (KOMIPO), on behalf of five Korean Gencos, has issued an international tender for total 1,450,000 MT (&pl ...
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- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Goldman Sachs - Singapore
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
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