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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, 24 June 19
KOMIPO INVITED BITUMINOUS COAL BIDS FOR BORYEONG & SHIN BORYEONG POWER PLANTS
South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 260,000 MT MT of min. 5700 NAR coal and 240,000 MT of min. 4,600 k ...
Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
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- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
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