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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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Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
Saturday, 01 February 20
COAL IS NOT GOING ANYWHERE - MINING REVIEW
The coal sector is living under the constant threat of being blamed by environmentalists as being responsible for a world disaster called global wa ...
Saturday, 01 February 20
CIL PRODUCTION TO NOT EXCEED 640 MILLION TON IN FY20: OFFICIAL - PTI
Hit by disruptions due to a prolonged monsoon, mining major Coal India Ltd’s production in the current fiscal will not exceed 640 million ton ...
Saturday, 01 February 20
WHO PAYS FOR IMO 2020? - FREIGHT WAVES
The United Nations’ International Maritime Organization (IMO) implemented its low-sulfur fuel mandate on January 1, 2020. Full enforcement be ...
Friday, 31 January 20
EIA EXPECTS U.S. ELECTRICITY GENERATION FROM RENEWABLES TO SOON SURPASS NUCLEAR AND COAL
In the latest long-term projections, the U.S Energy Information Administration (EIA) projects electricity generation from renewable sources such as ...
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- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
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