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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, 17 September 19
THE DRY BULK FREIGHT MARKET IS ALREADY ON A DOWNWARD CORRECTION - ALLIED
Here we are again, just a breath before the final quarter of the year. Under typical circumstances and on the basis of what we have seen during the ...
Monday, 16 September 19
COLOMBIAN COAL PRODUCTION TO FALL 5% THIS YEAR, MINING GROUP SAYS - REUTERS
Colombia’s coal production will decline to around 80 million tonnes in 2019, nearly 5% below last year’s, because of low prices and dro ...
Monday, 16 September 19
THE COAL-D SHOULDER? - BALTIC EXCHANGE
Good fortune and the number 13 don’t usually go hand in hand, but when it comes to coal, 2013 actually seems to have been the commodity&rsquo ...
Monday, 16 September 19
SCRUBBERS AND FUEL PROFIT SHARE CLAUSES - CLYDE&CO
From 1 January 2020, Regulation 14 of MARPOL Annex VI provides that the sulphur content in fuel oil used on board ships shall be reduced from a max ...
Monday, 16 September 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR MAX 1,290,000 METRIC TONS OF STEAMING COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd has issued an international tender for total 1,290,000 Metric Tons steam coal.
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- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- PTC India Limited - India
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
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