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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, 10 March 20
CHINA'S COAL-RICH PROVINCE ENSURES ENERGY SUPPLY AMID EPIDEMIC - XINHUA
China’s coal-rich province of Shanxi has seen more than 500 coal mines resume production in February, which ensured energy supply amid the ou ...
Monday, 09 March 20
OPEC+ 'NO DEAL' A BLOW TO THE MARKET - WOOD MACKENZIE
Speaking after today’s OPEC+ meeting broke up, Ann-Louise Hittle, vice president, Macro Oils, at Wood Mackenzie, said: “Today’s o ...
Monday, 09 March 20
KOREA EAST-WEST POWER INVITED BIDS FOR 150,000 MT OF MIN 4,400 - MAX 5,499 NAR COAL
COALspot.com: KOREA EAST-WEST POWER CO. LTD. of South Korea has issued an international tender for total 150,000 MT of LCV coal for May – Jun ...
Sunday, 08 March 20
SUPRAMAX: A 55,000DWT VESSEL FIXING DELIVERY FROM EAST KALIMANTAN FOR A TRIP TO VIETNAM AT $9,100 - BALTIC BRIEFING
SUPRAMAX/ULTRAMAX - A 56,000DWT VESSEL FIXED DELIVERY SOUTH CHINA TRIP VIA INDONESIA, REDELIVERY EAST COAST INDIA, IN THE $6,000S
SUPRAMAX/U ...
Friday, 06 March 20
CHINA RESUMES 83.4 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 83.4 percent of its coal production capacity amid the fight against the novel coronavirus outbreak, the National Energy Administr ...
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- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
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