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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, 21 February 18
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2017 proved to be a relatively good year with positive margins for the Dry Bulk market. Especially during the last quarter of the year everyone can ...
Tuesday, 20 February 18
INDIA: COAL IMPORT RISES BY 12 PER CENT TO 18 MILLION TONNES IN JANUARY - PTI
The country’s coal import increased by 12.4 per cent to 18.49 million tonnes (MT) in January, against 16.
44 MT in the same month of the ...
Monday, 19 February 18
JOINT INSURANCE - WHY SHOULD YOU CARE? - SKULD
KNOWLEDGE TO ELEVATE
It is neither controversial nor new to say that co-assureds under a joint insurance policy cannot claim against each othe ...
Friday, 16 February 18
U.S. WEEKLY COAL OUTPUT DOWN 4.5 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.2 million short tons ...
Thursday, 15 February 18
INDIA: THERMAL POWER PLANTS UNDER STRESS ON RISING COAL, FREIGHT COSTS - BUSINESS STANDARD
Coal-based power plants are feeling the heat of spike in thermal grade coal prices and railway freight costs.
Prices of thermal grade coal sin ...
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- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Parliament of New Zealand
- Economic Council, Georgia
- ICICI Bank Limited - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- MS Steel International - UAE
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
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