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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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Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
Thursday, 21 June 18
CHINESE REDUCED COAL IMPORT RESTRICTIONS - CAIXIN GLOBAL
Caixin Global reported that the Chinese government has reduced restrictions on coal imports at the nation’s major ports in response to concer ...
Thursday, 21 June 18
INDIAN GOVERNMENT ADMITS COAL SHORTAGE, ASKS DISCOMS TO IMPORT - TIMES OF INDIA
Times of India reported that the power ministry has advised all state governments and private power distribution companies to import coal as Coal I ...
Tuesday, 19 June 18
WCA RESPONDS TO BP STATISTICAL REVIEW OF WORLD ENERGY 2018
Responding to BP’s Statistical Review of World Energy 2018, Benjamin Sporton, Chief Executive of the World Coal Association (WCA) said, &ldqu ...
Wednesday, 13 June 18
U.S. COAL PRODUCTION TO DECLINE BY 2% TO 756 MILLION SHORT TONS MMST IN 2018 - EIA
EIA forecasts U.S. coal production to decline by 2% to 756 million short tons (MMst) in 2018.
According to EIA's Short-Term Ener ...
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- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Central Java Power - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
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