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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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Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
Thursday, 19 March 20
BIMCO REVISES 2020 FORECAST FOR MAIN SHIPPING MARKETS
The coronavirus pandemic is impacting global shipping demand for 2020 negatively. The speed of the virus spread makes it difficult to assess the fu ...
Thursday, 19 March 20
U.S. COAL EXPORTS DECLINED IN 2019 - EIA
In 2019, U.S. coal exports declined to 93 million short tons (MMst), a 20% decrease from the previous year, according to the U.S. Energy Informatio ...
Thursday, 19 March 20
SOUTH KOREA'S KOSPO INVITED BIDS FOR MIN 3,700 OR MIN 4,200 NCV LOW CALORIFIC VALUE COAL
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO), has issued an international tender for total 160,000 MT (±10%) (80,000 x 2 Panamax) of ...
Wednesday, 18 March 20
DRY BULK: INDONESIAN COAL CARGOES PROVIDING A BIG BOOST IN THE EAST WHERE SENTIMENT FOR HANDIES ALSO STARTED IMPROVING - INTERMODAL
The BDI ended last week with small gains on the back of an encouraging number of cargoes out of key trading regions that helped sustain the reserve ...
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- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
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