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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, 13 November 18
INDIA: POWER DEMAND UP; COAL STOCKS AT MINES AT A 5-YEAR LOW - FINANCIAL EXPRESS
Stocks at Coal India mines plunged to a five-year low of 21 million tonne (mt) in October, as a sudden surge in demand for the fuel from the power ...
Monday, 12 November 18
COAL BUSINESS REMAINS PROSPECTIVE - ANTARA
Coal business happened to be sluggish in the 2012-2015 period because coal prices in the world market fell sharply, but it has begun to crawl up si ...
Monday, 12 November 18
INDONESIA'S HBA ENDS DECLINE IN NOVEMBER
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
Wednesday, 07 November 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
This has been another active week in the second-hand market for both the dry bulk and tanker sectors. Buying interest has recently increased, which ...
Monday, 05 November 18
TIGHTER FUEL RULES COULD RAISE SHIPOWNERS' COSTS AND CAPEX - FITCH RATINGS
More stringent fuel regulations regarding sulphur content could significantly increase global shipping companies’ operating costs and capex n ...
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- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
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