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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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Sunday, 15 September 19
SUPRAMAX / ULTRAMAX: MORE STEMS WERE NOTICED GOING TO VIETNAM FROM INDONESIA - BALTIC BRIEFING
Capesize
Overall it was a negative week for the Capesize market, with many routes losing ground. A limited amount of time charter appeare ...
Wednesday, 11 September 19
THE INDONESIAN COAL PRICE REFERENCE FELL HEAVILY IN SEPTEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 11 September 19
SHIPPING MARKET INSIGHT - INTERMODAL
We are going through one of the rare instances where we see optimism building in the dry bulk industry and, as the momentum is still going, the bel ...
Monday, 09 September 19
INDIAN COMPANIES READY TO INVEST IN DEVELOPMENT OF NEW COAL DEPOSITS IN RUSSIA'S YAKUTIA - TASS
Indian metallurgical companies, which received trial batches of coal from Kolmar mining company, are satisfied with the quality of the products and ...
Monday, 09 September 19
COLOMBIA COAL OUTPUT DOWN YEAR-ON-YEAR IN 2ND QUARTER - REUTERS
Colombia, the world’s fifth-largest exporter of coal, produced 18.9 million tonnes of the fuel in the second quarter, down 4.5% from the same ...
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- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- India Bulls Power Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Planning Commission, India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
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