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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, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
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- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Australian Coal Association
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- The University of Queensland
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
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