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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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Sunday, 20 January 19
OIL MARKET REPORT: A MARATHON, NOT A SPRINT - IEA
Last month, we asked if there was a floor under prices following the signing of a new Vienna Agreement that aims to re-balance the oil market. Foll ...
Thursday, 17 January 19
EIA ESTIMATES THAT U.S. COAL EXPORTS WERE 116 MMST IN 2018, 20% HIGHER THAN THE AMOUNT EXPORTED IN 2017
Coal Supply
EIA estimates that coal production declined by 20 million short tons (MMst) (3%) in 2018, despite a 19 MMst increase in U.S. coal e ...
Thursday, 17 January 19
U.S COAL OUTPUT IS EXPECTED TO FALL BY 3 PER CENT IN 2019 - EIA
EIA forecasts that U.S. coal production will total 729 million short tons (MMst) in 2019, down by 25 MMst (3%) from 2018.
Acco ...
Wednesday, 16 January 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we go through the first days of the year and just a few weeks before the Chinese New Year, the ship repair sector is witnessing a big difference ...
Monday, 14 January 19
KOREA SOUTHERN POWER INVITES BIDS FOR 320,000 MT OF MIN 3,800 NCV COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 3,800 kcal/kg NCV coal for ...
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- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
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