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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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Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
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