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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, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Economic Council, Georgia
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
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