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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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Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
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- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- McConnell Dowell - Australia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
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