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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, 31 July 18
ENERGY MINISTRY REMAINS FIRM ON DMO POLICY FOR COAL - JP
The Energy and Mineral Resources Ministry has stressed that it will not cancel its policy on the domestic market obligation (DMO) for coal, as the ...
Saturday, 28 July 18
GOVERNMENT TO REVOKE COAL PRICE CAP POLICY - JP
The government plans to revise its domestic market obligation (DMO) on coal price next week during a high-level meeting with President Joko “ ...
Thursday, 26 July 18
A SUPRAMAX IS NOW PAID AROUND USD 21,500 FOR LOADING IN THE US GULF WITH DISCHARGE IN THE FAR EAST - FEARNLEYS
Cape
There has been a relatively strong summer period so far, and there is a strong week we have left behind us.
In the Pa ...
Thursday, 26 July 18
ASEAN COAL IMPORTS INCREASED IN 2Q' 18 COMPARED TO THE PRIOR YEAR; THIS TREND TO CONTINUE AS 56 GIGAWATTS OF NEW COAL PLANTS IN 24 COUNTRIES WORLDWIDE ARE EXPECTED TO COME ONLINE IN 2018 - PEABODY
Peabody announced its second quarter 2018 operating results, including revenues of $1.31 billion, income from continuing operations, net of income ...
Wednesday, 25 July 18
COAL MINER BUKIT ASAM'S PROFIT GROWS 50% IN FIRST HALF - JP
Coal miner Bukit Asam announced 50 percent profit growth to Rp 2.58 trillion (US$177.33 million) in the first half of 2018, on the back of a coal-p ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- White Energy Company Limited
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- VISA Power Limited - India
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
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