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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, 05 April 17
THE AVERAGE SECOND HAND PANAMAXES AND CAPES PRICES FOR A 5-YR OLD VESSEL HAS INCREASED MORE THAN 19% AND 20% RESPECTIVELY M/M - INTERMODAL
With the help of what so far appears to be a very strong grain season together with the fact that imports from China have remained so far robust in ...
Tuesday, 04 April 17
THE IRON ORE HAS BEEN ABLE TO KEEP ITS GROWTH PATH FAIRLY WELL; THERE IS STILL ONE PART OF THE WORLD THAT IS STILL HEAVILY COMMITTED TO COAL
With the close of March having let us with a very positive after taste and having witnessed near the end of the month the Baltic Dry Index at its h ...
Monday, 03 April 17
WORLD COAL TRADE STABLE IN 2016: DEMAND SHIFTS TO SOUTH-EAST ASIA - ASSOCARBONI
ASSOCARBONI: Coal confirmed as the leading fuel for electricity generation, accounting for 40% of overall production in 2016.
World coal trade ...
Monday, 03 April 17
DRY BULK RATES CONTINUING TO FIRMING UP
COALspot.com: The Freight market was continuing to firming up. Baltic Panamax Index rose 12.81 percent week over week.
The Baltic Exchang ...
Friday, 31 March 17
U.S. COAL PRODUCTION INCREASE SLIGHTLY WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
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- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
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