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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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Thursday, 09 May 19
OFFSHORE CARIBBEAN CONGRESS 2019
Offshore Caribbean Congress 2019
Event Date: 4-5th July. 2019t
Location: Georgetown, Guyana
Hess announced a new d ...
Tuesday, 07 May 19
UNDOUBTEDLY A VERY TROUBLED YEAR FOR THE DRY BULK MARKET, SAYS ALLIED SHIPPING
Undoubtedly a very troubled year for the dry bulk market says Allied Shipping in its latest weekly report.
Thomas Chasapis, Re ...
Saturday, 04 May 19
HOW THE 'FAIR VALUE' OF COAL ASSETS IS AFFECTED BY COMMODITY CYCLES - CRU
As with any commodity, valuing coal assets can be tricky due to the cyclical nature of the market. In this insight, CRU discusses how commodity cyc ...
Friday, 03 May 19
SUPRAMAX: WITH WIDESPREAD HOLIDAYS DURING THE WEEK, THE MARKET LACKED IMPETUS - BALTIC BRIEFING
Capesize
The market last week was a tale of two halves, with substantial volatility. Beginning the week on a positive note the C5 West Australi ...
Friday, 03 May 19
COAL INDIA APRIL OUTPUT RISES 1% TO 45.29 MILLION TONNE - PTI
Coal India Ltd (CIL) Wednesday said its coal production in April 2019 rose by 1 per cent to 45.29 million tonne as compared with 44.86 million tonn ...
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- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Ambuja Cements Ltd - India
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
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