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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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Monday, 16 December 19
THE OUTLOOK FOR U.S. THERMAL COAL IS INCREASINGLY STRESSED - MOODY'S
- Slowing global economic growth, trade tensions will continue to exert influence
- Coal's secular decline will persist in 2020
...
Thursday, 12 December 19
KOWEPO INVITING BIDS FOR 2.28 MILLION TONS OF MIN.4,400 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,280,000 tons of (Sub) Bitum ...
Wednesday, 11 December 19
PANAMAX: THE MARKET REMAINED FIRM IN THE PACIFIC, WITH INCREASED ACTIVITY NOTED IN KEY AREAS, SUCH AS INDONESIA - ALLIED
Capesize – Positive momentum was resumed this past week, with earnings mak-ing some gains once again. This rising pattern was reflected in th ...
Tuesday, 10 December 19
PREPARATIONS INTENSIFY AS IMO 2020 GLOBAL SULPHUR CAP LOOMS - STANDARD CLUB
With less than a month to go for the impending IMO 2020 global sulphur cap, the club has started witnessing dispute cases relating to the measureme ...
Monday, 09 December 19
KOREA SOUTHERN POWER CO LTD IS INVITING OFFERS FOR MIN 3700 NCV COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for 160,000 Tons steam coal.
Acco ...
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- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Australian Coal Association
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
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