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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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Saturday, 18 January 20
BIMCO: LOW-SULPHUR FUEL SALE JUMPS TO A 70% SHARE IN SINGAPORE, AS THE IMO 2020 SULPHUR CAP KICKS IN
The final quarter of 2019 marked a massive decline of HSFO sales, as the industry transitioned into compliance of the IMO 2020 Sulphur Cap (IMO2020 ...
Saturday, 18 January 20
GERMAN STEAM COAL IMPORTS IN 2019 PLUMMETED BY 17 % - COAL IMPORTERS ASSOCIATION
Press Release: According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), world trade in h ...
Saturday, 18 January 20
A 61,400 DWT FIXED FROM SOUTH EAST ASIA DELIVERY EAST KALIMANTAN REDELIVERY WEST COAST INDIA IN THE LOW $7,000S - BALTIC BRIEFING
Capesize
The market was relatively stable over this past week putting an end to the past months of more extreme declines. While the Capesize 5T ...
Friday, 17 January 20
EIA ESTIMATES THAT U.S. COAL PRODUCTION DECLINED BY 65 MMST (9%) TO 690 MMST IN 2019. IN 2020, COAL PRODUCTION WILL DECLINE BY A FURTHER 14% TO 597 MMST
U.S. Coal Supply.
EIA estimates that U.S. coal production declined by 65 million short tons (MMst) (9%) to 690 MMst in 2019. In 2020, EIA ...
Friday, 17 January 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index, a gauge of coal p ...
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- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- White Energy Company Limited
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- The University of Queensland
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
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