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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, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
Friday, 09 March 18
U.S. EXPORTED 97 MMST OF COAL IN 2017, A 61 PER CENT INCREASE FROM 2016 - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.1 million short tons ...
Thursday, 08 March 18
BUMA SIGNED OVER US$ 500 MILLION WORTH OF NEW CONTRACT WITH PT TANAH BUMBU RESOURCES
PT Delta Dunia Makmur Tbk., announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), has entered into mining services ...
Thursday, 08 March 18
THE ENERGY CONTRIBUTION FROM COAL-BASED POWER PLANTS IS LIKELY TO INCREASE TO 1072 BU BY 2021-22 : PIB
Government of India has set an ambitious target of 175 GW from Renewable energy sources (RES) by 2022, which comprises of 100 GW Solar, 60GW from W ...
Thursday, 08 March 18
SUPRAMAX: THE MARKET IS STILL GOING STRONG IN THE PACIFIC - FEARNLEYS
Supramax
The market is still going strong in the Pacific, with Ultra fixing high US$ 13000+375000 bb for South Africa to ECI while nickel ore run ...
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- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Planning Commission, India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- The University of Queensland
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
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