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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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Thursday, 30 January 20
PRIVATE SECTOR COMPANIES SEEK 'LEVEL PLAYING FIELD' FOR COAL BLOCK AUCTION - PTI
Private sector companies scouting opportunities for commercial coal mining in the country are seeking a “level playing field” to encour ...
Thursday, 30 January 20
CAPE: WITH CHINESE NEW YEAR TAKING PLACE, THE RATES ARE REACHING FURTHER DISAPPOINTING LEVELS - FEARNLEYS
Cape
With Chinese New Year taking place, the rates are reaching further disappointing levels. Present TC average is below USD 4,500, off 24% fr ...
Wednesday, 29 January 20
INDONESIA REMAINS AT THE TOP SPOT IN 2019 AS THE LARGEST SUPPLIER OF COAL TO INDIA WITH 91.3 MLN TONNES - BANCHERO COSTA
Despite repeated promises from India’s government to reduce the country’s coal imports and increase domestic self-reliance, volumes jus ...
Wednesday, 29 January 20
MARKET INSIGHT - INTERMODAL
Last week Libya’s oil production operations were disrupted as it was reported that local Libyan tribes interrupted output at the the El Feel ...
Tuesday, 28 January 20
INDONESIA - UNCERTAINTY OVER AVAILABILITY OF LSFO - THE STANDARD CLUB
The club has received reports that low sulphur fuel is not currently readily available in all Indonesian ports and that there are local shortages.
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- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Planning Commission, India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
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