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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, 18 December 18
COAL OUTLOOK BULLISH DESPITE WEAK CHINESE IMPORT DATA - HEREN, ICIS
Coal prices may appreciate over the remainder of 2018 even despite recent data showing falling imports from the world’s largest producer and ...
Tuesday, 18 December 18
TOBA BARA ACQUIRES SHARES OF PT BATU HITAM PERKASA
PT Toba Bara Sejahtra Tbk, through its subsidiary PT Toba Bara Energi (“TBE”), has acquired shares ...
Monday, 17 December 18
SUPRAMAX THERE WAS STRONGER DEMAND FROM SOUTHEAST ASIA, WITH MORE COAL BEING SHIPPED - BALTIC BRIEFING
Capesize
A positive end to last week after a somewhat uncertain start as some gains made were eroded. Rates recovered later for West Australia/ ...
Monday, 17 December 18
SOUTH KOREA STATE-OWNED UTILITY KOREA EAST-WEST POWER CO. LTD ISSUED A TENDER FOR MAX 3.220 MILLION TONS OF 4200 TO 5900 NAR COAL
COALspot.com: South Korea state-owned utility Korea East-West Power Co. Ltd (EWP) issued a tender for max 3,220,000 Metric Tons of coal to be loade ...
Saturday, 15 December 18
COMING CHANGES IN MARINE FUEL SULFUR LIMITS WILL AFFECT GLOBAL OIL MARKETS - EIA
International regulations limiting sulfur in fuels for ocean-going vessels, set to take effect in January 2020, have implications for vessel operat ...
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- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Planning Commission, India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Mjunction Services Limited - India
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