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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, 06 March 20
COLOMBIAN COAL OUTPUT FELL 2% IN 2019 - REUTERS
Coal production in Colombia, the fifth-largest coal exporter in the world, fell 2% to 82.2 million tonnes in 2019 after output at one of the princi ...
Friday, 06 March 20
SOLID BACKING FOR LNG AS A MARINE FUEL - BALTIC EXCHANGE
When it comes to choosing the best fuel on the near horizon to help the international shipping industry shrink its carbon intensity by 2050, DNV GL ...
Friday, 06 March 20
INDONESIA COAL PRICE REFERENCE UP AGAIN THIS MONTH
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 March 20
PANAMAX: SHIP-OWNERS HAVE MOSTLY BEEN GETTING HIGHER RATES THAN THE LAST DONE - FEARNLEYS
Cape
There is still limited amount of positive news around, with the effects of Corona virus hurting world economy. However, overall average in ...
Thursday, 05 March 20
COAL IMPORTS DOWN IN MAJOR ASIAN MARKETS, AND CORONAVIRUS NOT THE DRIVING FORCE - CLYDE RUSSELL
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
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- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- The University of Queensland
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
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