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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, 27 April 16
INDONESIAN COAL MINER KIDECO REPORTED NET PROFIT OF US$138.1 MILLION IN 2015
COALspot.com: Kideco Jaya Agung, one of the Indonesia's leading coal miners has reported net profit of US$138.1 million on revenue of US$1.65 b ...
Tuesday, 26 April 16
INDONESIA BANNED COAL EXPORTS TO PHILIPPINES BY BARGES DUE TO SECURITY CONCERN
COALspot.com: The Ministry of Energy and Mineral Resources (ESDM) on behalf of the government of Indonesia has Freeze coal exports by barges to Phi ...
Tuesday, 26 April 16
NEWBUILDING DEMAND DOWN EVERYWHERE? - CLARKSONS
Newbuild activity provides one indication of an owner country’s likely future fleet growth, though secondhand sale and purchase and demolitio ...
Monday, 25 April 16
CHINESE STEEL PRICE SURGE NOT SUSTAINABLE - FITCH
The rapid increase in Chinese steel prices so far this year is not sustainable, as it is largely due to a seasonal pick-up in construction and elev ...
Monday, 25 April 16
WEEKLY CS (I) COAL INDICES END ALMOST FLAT
COALspot.com: Average 5000 GAR coal index of Indonesian origin up 0.05 percent week over week to averaging $38.67 per ton on this past Friday, acco ...
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- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- White Energy Company Limited
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Planning Commission, India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Minerals Council of Australia
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
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