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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, 08 October 18
KOMIPO INVITES BIDS FOR 520,000 TONS OF COLOMBIAN ORIGIN OF 5,700 NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 520,000 MT of min. 5700 NAR coal of Colombian origin ...
Sunday, 07 October 18
SUPRAMAX: INDO-INDIA USUAL COAL RUNS WERE COVERED AT US$ 12K - FEARNLEYS
Capesize
Average daily earnings up close to 15 pct in 5 trading days, thus patience finally paying off for owners of the big ships - Chinese play ...
Sunday, 07 October 18
A CASE FOR 20/20 VISION? IMO'S LOW SULPHUR FUEL LIMIT UNDER MARPOL ANNEX VI WHICH COMES INTO FORCE ON 1ST JANUARY 2020
KNOWLEDGE TO ELEVATE
The implementation of the global 0.5% sulphur cap for bunker fuel under MARPOL Annex VI in just under 18 months’ ti ...
Friday, 05 October 18
COAL PRODUCTION REACHES 64% OF 2018 TARGET : THE JAKARTA POST
National coal production up to August has already reached 311 million tons, or 64 percent of this year's total target of 485 million tons, acco ...
Wednesday, 03 October 18
VALUE OF AUSTRALIAN COAL EXPORTS TIPPED TO DECLINE SHARPLY OVER NEXT 18 MONTHS - THE GUARDIAN
Thermal coal prices forecast to drop 25% and metallurgical coal prices 23% as value of iron ore exports also falls
The value of Aust ...
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- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
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