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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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Friday, 14 December 18
KOSPO INVITED BIDS FOR 320,000 MT OF LOW CALORIFIC VALUE COAL
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 320,000 MT of min 4,300 kcal/kg NCV coal per ...
Friday, 14 December 18
KOSPO INVITES BIDS FOR 1,177,000 METRIC TONS OF COAL FOR Q1' 19 LOADING
COALspot.com: South Korea state-owned utility Korea Southern Power Co. Ltd (KOSPO) issued a tender for 701,000 MT of min 5,600 kcal/kg NCV coal and ...
Friday, 14 December 18
COAL IMPORT TO BE CHECKED BY RISING DOMESTIC PRODUCTION - FINANCIAL EXPRESS
The government’s effort to increase domestic coal production and power demand falling with the onset of the winters will check coal imports, ...
Thursday, 13 December 18
STRAITS AFFECTED BY TERRITORIAL DISPUTE BETWEEN SINGAPORE AND MALAYSIA - THE STANDARD CLUB
A recent territorial dispute has occurred between Singapore and Malaysia involving the Straits of Johor.
The Malaysian Attorney Gene ...
Wednesday, 12 December 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
China’s monthly iron ore imports dropped for the first time this year joined by declines in copper and soybeans as economic growth slows in t ...
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- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- Thiess Contractors Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
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