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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, 08 June 16
THE DRY BULK MARKET KEPT MOVING SIDEWAYS LAST WEEK; SECOND HAND PURCHASES MOVING NORTH - INTERMODAL
Once again its Posidonia time and the biannual exhibition takes place during a very warm June here in Athens, as if the performance of the dry bulk ...
Tuesday, 07 June 16
CS COAL INDEX ROSE FOR SECOND STRAIGHT WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up 0.38 percent week over week to averaging $39.16 per ton this past week, shows ...
Monday, 06 June 16
BDI GAINED ON A STRONGER DEMAND FOR CAPESIZE SHIPS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week on a stronger demand for Capesize ves ...
Friday, 03 June 16
DRY BULK VESSEL DELIVERIES COULD BE LESS THAN 50 MILLION DWT IN 2016, AS OWNERS DELAY OR CANCEL NEWBUILDING ORDERS
The dry bulk market has been caught between a rock and a hard place over the course of the past couple of years, as on one hand demand has plunged, ...
Friday, 03 June 16
U.S WEEKLY COAL PRODUCTION SLIDES 1.3% - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.5 million short tons (mm ...
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- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Planning Commission, India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Madhucon Powers Ltd - India
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