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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, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
Thursday, 20 February 20
CHINA RESUMES OVER 70 PCT COAL PRODUCTION CAPACITY AMID EPIDEMIC - XINHUA
China has resumed 70.2 percent of its coal production capacity with output recovering steadily amid the fight against the novel coronavirus epidemi ...
Thursday, 20 February 20
CHINA THERMAL COAL MARKET FACES 2-3 MONTH CORONAVIRUS SHORT SQUEEZE: NOBLE - REUTERS
China’s domestic thermal coal market faces a 2-3 month short squeeze as a rapidly spreading coronavirus outbreak curtails production more tha ...
Wednesday, 19 February 20
KOREA MIDLAND POWER INVITED BIDS FOR 1 MILLION TONS OF HCV AND LCV COAL FOR Q2- Q4 LOADING
COALspot.com: Korea Midland Power Co. Ltd, (KOMIPO). has issued an international tender for total 1 million MT of coal for April to December 2020 l ...
Wednesday, 19 February 20
GLENCORE WRITES OFF ALMOST $1 BILLION AT COLOMBIAN COAL MINES DUE TO FALLING EUROPEAN IMPORTS: BLOOMBERG
The economic case against European coal is proving too much for even Glencore Plc.
The world’s biggest coal shipper cut the va ...
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- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- White Energy Company Limited
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- MS Steel International - UAE
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