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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, 06 March 19
KOREA SOUTHERN POWER CO INVITES BIDS FOR 980,000 MT OF 4600 NCV COAL FOR THREE YEARS
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,600 kcal/kg NCV low calo ...
Wednesday, 06 March 19
SHIPPING MARKET INSIGHT - INERMODAL
In a downward moving market, softer SnP activity is usually a given, as the gap between Sellers’ and Buyers’ ideas widens, especially w ...
Saturday, 02 March 19
A 60,500-TONNER WAS BOOKED DELIVERY SINGAPORE, VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $11,250 - BALTIC BRIEFING
Capesize
Vale’s ongoing absence from the Brazil spot market continued to have a negative impact on sentiment, with rates falling in all a ...
Thursday, 28 February 19
COAL'S PERFECT STORM HITS $70 BILLION AUSTRALIAN PROJECTS - BLOOMBERG
It’s been a tough few weeks for our coal industry.
First there was a court ruling blocking a new mine on climate change ground ...
Wednesday, 27 February 19
SHIPPING MARKET INSIGHT - INTERMODAL
With the IMO 2020 approaching, it becomes challenging for the market to accurately explore the run-up to the deadline given that marine fuel-oil of ...
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- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
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