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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, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
Wednesday, 10 July 19
KOREA SOUTH-EAST POWER INVITES BIDS FOR HCV AND LCV COAL FOR AUGUST 2019 LOADING
COALspot.com: South Korea’s Korea South-East Power Co., Ltd. (KOEN) has issued an international tender for total 460,000 to 500,000 Metric To ...
Wednesday, 10 July 19
SHIPPING MARKET INSIGHT - INTERMODAL
In contrast with the general expectations for the dry bulk market, the sector was not positive or even stable during the past 6 months. The warning ...
Monday, 08 July 19
INDONESIAN COAL PRICE REFERENCE POSTS BIGGEST MONTHLY LOSS SINCE JANUARY 2017
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 08 July 19
ULTRAMAX: A 52,000-TONNER OPEN CJK FIXED FOR A TRIP VIA INDONESIA WITH RE-DELIVERY CHINA AT $6,100 - BALTIC BRIEFING
Capesize
The Capesize market surged over the past week, reaching highs not seen since August last year. Widespread activity in both basins saw ...
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- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Australian Coal Association
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
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