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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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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
Monday, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
Capesize
The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
Supramax
Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
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- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
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