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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, 10 August 18
U.S. COAL PRODUCTION TO DECLINE BY 1.8% IN 2019 BECAUSE COAL EXPORTS AND COAL CONSUMPTION ARE BOTH FORECAST TO DECREASE - EIA
EIA forecasts U.S. coal production will decline by 1.1% to 766 million short tons (MMst) in 2018 despite a 5.7% (6 MMst) increase in coal exports.
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Thursday, 09 August 18
RIO TINTO COMPLETES SALE OF REMAINING COAL ASSETS
Rio Tinto has completed the sale of its remaining coal assets in Queensland, Australia, for $3.95 billion.
According to a noted post ...
Wednesday, 08 August 18
CHINA DEMANDS PREMIUM IRON ORE, COAL; MINERS MIXED IMPACT - FITCH RATINGS
China’s stricter environmental regulations and structural changes in its steelmaking industry boosts ongoing demand for high-quality iron ore ...
Wednesday, 08 August 18
SHIPPING MARKET INSIGHT - CHRISTOPHER WHITTY
Singapore's shipyard business has evolved over the decades, from shipbuilding and repairs to rig building. It's now evolving again, to cate ...
Friday, 03 August 18
PHEW! ASIA, EUROPE HEATWAVE PUSHES AUSTRALIA COAL PRICES TO 6-YEAR HIGH: REUTERS
Australian thermal coal prices have hit fresh six-year highs as a heatwave across the northern hemisphere has triggered a spike in demand for coal- ...
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- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- The University of Queensland
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
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