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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, 07 December 19
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
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- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Parliament of New Zealand
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Australian Coal Association
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