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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, 02 November 18
COAL FETCHES 102% PREMIUM IN E-AUCTION, SURPASSING THE EARLIER HIGHEST OF 95% - FINANCIAL EXPRESS
Coal prices have received a premium of 102% in spot e-auction during September 2018, surpassing the earlier highest of 95% premium during the spot ...
Friday, 02 November 18
CHINA: COAL CONSUMPTION POSTS STRONG GROWTH ON BACK OF POWER GENERATION DEMAND - CHINA DAILY
China’s energy consumption experienced continuous rebound during the first three quarters in 2018, National Energy Administration announced o ...
Thursday, 01 November 18
IMO 2020 - EXPLORING THE OPTION OF SOX SCRUBBERS - SIDDHARTH MAHAJAN, GARD
KNOWLEDGE TO ELEVATE
There are four possible methods of compliance:
1.use VLSFO (very low Sulphur oil) or blends;
2,use dis ...
Wednesday, 31 October 18
INDIA: COAL IMPORTS SURGE ON DOMESTIC SHORT SUPPLY - HINDU
Shortage of thermal coal supply in India has pushed imports up to 85 million tonnes (mt) in the first half of the current fiscal compared to 75 mt ...
Wednesday, 31 October 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
Since the IMO’s 2020 global cap on sulphur in marine fuels is coming into force, ship-owners have to decide whether they will operate using e ...
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- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Economic Council, Georgia
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