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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, 17 December 19
AUSTRALIA ENERGY MARKET OPERATOR TURNS SCROOGE ON COAL LOBBY: RUSSELL
Australia, which vies with Indonesia for the title of the world’s largest coal exporter, is planning for an electricity future where use of t ...
Tuesday, 17 December 19
BACK TO FUTURE FOR BUSH AS AUSTRALIA CONSIDERS MOVING AWAY FROM COAL NEWCASTLE - HERALD
Looking backwards could show the way forward for regional communities planning for a future beyond mining.
One of Australia’s ...
Tuesday, 17 December 19
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.01 PCT - XINHUA
China Taiyuan coal transaction price index stood at 133.16 points, down 0.01 percent week on week.
The index, released by China Taiy ...
Tuesday, 17 December 19
YEAR 2019: IT IS LOOKING SET THAT THIS YEAR WILL BE ONE OF THE SLOWEST IN TERMS OF DRY BULK NEWBUILDING ACTIVITY - ALLIED
With just two weeks remaining before 2019 comes to an end, it is now looking set that this year will be one of the slowest in terms of dry bulk new ...
Monday, 16 December 19
ULTRAMAX: A 63,000DWT SHIP FIXING DELIVERY FOR A SINGAPORE TRIP VIA INDONESIA, FOR RE-DELIVERY TO CHINA AT $11,000 - BALTIC BRIEFING
Capesize
It was one-way traffic for the Capesize market this past week, with all routes giving up value. While downward momentum may have slowe ...
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- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Planning Commission, India
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
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