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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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Tuesday, 21 January 20
ASIA'S APPETITE FOR COAL GROWS, WITH CHINA THE KEY DECIDER - NIKKEI
Although renewable power generation is expected to rise significantly in Asia, India’s vast electricity needs will still underpin global dema ...
Tuesday, 21 January 20
THERMAL COAL PRICES SET FOR RECOVERY THIS YEAR AS OVERSUPPLY TIGHTENS - REUTERS
Thermal coal prices are expected to recover this year after losing around a third of their value last year as demand from some south-east Asian cou ...
Monday, 20 January 20
INDIA TO STOP SUBSTITUTABLE COAL IMPORT; CAN GO FOR AUCTION OF 100 FULLY EXPLORED NEW BLOCKS: JOSHI - PTI
The Cabinet recently approved promulgation of Mineral Laws (Amendment) Ordinance 2020 to amend Mines and Minerals (Development and Regulation ) Act ...
Monday, 20 January 20
CHINA DECEMBER COAL OUTPUT UP 2.4 PERCENT ON YEAR - STATS BUREAU: REUTERS
China produced 331.74 million tonnes of coal in December, up 2.4 percent on the year, the National Bureau of Statistics said on Friday.
...
Monday, 20 January 20
CHINA IMPORTED 124.4 MLN TONNES OF COAL FROM INDONESIA IN 2019, UP 15.1 PERCENT YOY - BANCHERO COSTA
China's coal imports raced ahead in 2019, surprising many who had expected that in the months of 2019 to come the government would clamp down s ...
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- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Planning Commission, India
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
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