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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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Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
Wednesday, 04 December 19
SHIPPING MARKET INSIGHT - INTERMODAL
Dry bulk freight rates rebounded last week, a development that came as a relief following the recent negative sentiment that prevailed in the marke ...
Wednesday, 04 December 19
INDONESIA REVIEWING RULES MANDATING COAL SALES TO LOCAL BUYERS: OFFICIAL - REUTERS
Indonesia is reviewing rules that require coal miners to sell a portion of their coal to local buyers, a government official said on Monday, as sup ...
Tuesday, 03 December 19
STABILITY AND COMPATIBILITY OF VERY LOW SULPHUR FUEL OILS - GARD
In order to meet increasing restrictions on the sulphur content in marine fuel as defined by MARPOL Annex VI Regulation 14.1.3, the characteristics ...
Monday, 02 December 19
COAL PRODUCTION IN INDIA UP BY 164.58 MT IN 5 YEARS - BUSINESS LINE
Raw coal production in the country has increased from 567.77 million tons (MT) in 2013-14 to 730.35 MT in 2018-19, Union Coal and Parliamentary Aff ...
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- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Minerals Council of Australia
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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