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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, 17 May 16
INDONESIAN COAL PRICE REFERENCE DECLINE AGAIN
COALspot.com: The Indonesia Coal Benchmark Price declined in May 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of ...
Tuesday, 17 May 16
CHINA THERMAL-POWER OVERSUPPLY TO WORSEN - FITCH
COALspot.com: The overcapacity in thermal-power generation in China is likely to worsen in 2016 to 2017, Fitch Ratings says in a new report.
F ...
Tuesday, 17 May 16
ON YOUR MARKS: TRACKING CHINESE TRADE - CLARKSONS
One of the major drivers behind the challenges currently facing many of the shipping markets has been slower demand growth. World seaborne trade gr ...
Monday, 16 May 16
INDONESIAN WEEKLY COAL INDICES AT POSITIVE LEVELS - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.31 percent week over week to averaging $38.94 per ton this past week, shows CS ...
Monday, 16 May 16
OPEC SEES RIVAL OIL PRODUCTION DECLINING
Crude Oil Price Movements
The OPEC Reference Basket averaged $37.86/b in April, a gain of $3.21 or 9.3%. This was 40% higher than the lows reache ...
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- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
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