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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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Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
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- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Australian Coal Association
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
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