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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, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
Friday, 14 February 20
IS THE US COAL INDUSTRY COMPLETELY BURNED OUT? -FORBES
This is the fourth of a multi-part series on the state of the main sources of energy in the US and how they compare globally. The series will cover ...
Friday, 14 February 20
FITCH RTGS: GLOBAL PORTS VULNERABLE TO CORONAVIRUS - RELATED VOLUME DECLINES
Global ports will see reduced trade volumes as a result of the coronavirus, COVID-19, which would become more severe should Chinese production take ...
Thursday, 13 February 20
INDIA: MAJOR PORTS SHOW MUTED GROWTH IN CARGO AS THERMAL COAL VOLUME SLIDES 15% - BUSINESS STANDARD
A sharp slide of 15 per cent in thermal coal volumes weighed on the performance of major ports during the period of April-January of FY20. The majo ...
Wednesday, 12 February 20
REFINING SET FOR A CHALLENGING 2020 - WOOD MACKENZIE
Downstream isn’t the glamorous end of the oil business. And in Big Oil, it’s typically dwarfed by upstream. Yet having been forced to r ...
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- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- ASAPP Information Group - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
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