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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, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
Saturday, 30 March 19
KOEN INVITES BIDS FOR 450,000 TONS OF (SUB) BITUMINOUS COAL FOR H1 AND JUNE 2019
South Korea state-owned utility KOREA SOUTH-EAST POWER CO., LTD. (KOEN) issued a tender for total 450,000 MT of min. 4300, 3500 and 5600 NCV ...
Wednesday, 27 March 19
SHIPPING MARKET INSIGHT - INTERMODAL
Contrary to the December 2018 forecasts but in line with the expectations of the dry bulk market, the first quarter of the year closed negatively. ...
Saturday, 23 March 19
IT WAS A POSITIVE WEEK FOR THE HANDY SIZE MARKET - BALTIC BRIEFING
Capesize
The big ships endured heavy losses last week extinguishing any hopes from the recent minor rally. Negative sentiment gained pace throu ...
Friday, 22 March 19
CHINA MARKET: COAL OUT IN THE COLD - BUSINESS RECORDER
Though China maintains there is no ban, China-bound Australian coal shipments are looking for a new home. For the past few months, coal cargoes are ...
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- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- The University of Queensland
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
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