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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, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
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