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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, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
Monday, 25 November 19
COAL SUPPLY BY CIL TO POWER SECTOR DROPS OVER 8 PC TO 253 MT IN APRIL-OCTOBER - PTI
Supply of coal by state-owned CIL to the power sector registered a decline of 8.5 per cent to 253 million tonnes in the April-October period of thi ...
Monday, 25 November 19
A 53,000DWT SHIP FIXED AT $9,500 DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY VIETNAM - BALTIC BRIEFING
Capesize
After a week of value being eroded on the Capesize market, Friday brought improved sentiment across most of the routes. The 5TC averag ...
Monday, 25 November 19
KOWEPO INVITED 6.79 MILLION TONS OF (SUB)BITUMINOUS STEAM COAL BIDS
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for 6,798,000 tons of coal for 5 years ...
Friday, 22 November 19
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Petron Corporation, Philippines
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Siam City Cement - Thailand
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Parliament of New Zealand
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
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