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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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Friday, 11 October 19
KOREA SOUTH-EAST POWER TO IMPORT LCV COAL IN NOVEMBER
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for 75,000 Metric Tons low calorific v ...
Thursday, 10 October 19
THERMAL COAL IMPORT LIKELY TO CROSS 200 MT IN 2019-20 - TIME OF INDIA
The country's overall thermal coal import is likely to cross the 200-million tonnes (MT) mark in the current financial year, according to Icra. ...
Wednesday, 09 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
As we have already stated in previous insights, we had expected that the recovery on rates and activity across all segments in the offshore market ...
Thursday, 03 October 19
OIL PRICE ASSUMPTIONS UNCHANGED, NBP GAS PRICE LOWERED - FITCH RATINGS PRIMARY - FITCH RATINGS
Our oil price assumptions are unchanged, despite the recent price volatility following the attacks on Saudi Arabia's oil infrastructure, Fitch ...
Thursday, 03 October 19
SHIPPING MARKET INSIGHT
Edible oil products across the board are showing healthy amount of export activity, however, rates in most cases are struggling to move accordingly ...
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- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
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