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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, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
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- Parliament of New Zealand
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Planning Commission, India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
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