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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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Thursday, 07 April 16
BIMCO AND GIIGNL PUBLISH A GROUNDBREAKING VOYAGE CHARTER PARTY FOR LNG TRADE
BIMCO and the International Group of Liquefied Natural Gas Importers (GIIGNL) have today jointly issued the first definitive voyage charter party & ...
Wednesday, 06 April 16
HOW LONG SHIPPING CRISIS WILL BE; WHEN SHOULD OWNERS EXPECT THE BULK CARRIERS TO BECOME PROFITABLE? - INTERMODAL
It is the consensus that dry bulk shipping has been in a crisis for quite some time now. Bulk carrier values are at historical low levels, therefor ...
Tuesday, 05 April 16
DRY BULK REVISITS 1980S LOWS AND FACES UNCERTAIN LONGER TERM OUTLOOK - MSI | HELLENIC SHIPPING NEWS
With the market near bottom, attention is turning to the length of the downturn, the effect on asset values and the impact of broader demand side c ...
Monday, 04 April 16
THE LOADING, AND SUBSEQUENT DISCHARGE, OF UNSAFE NICKEL ORE - ALL TIME TO 'COUNT' - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In a recent, published, London arbitration award the English tribunal has held that all time lost as a result of loading, ...
Monday, 04 April 16
INDONESIA CS57 COAL INDEX SLIDES SLIGHTLY WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 0.07 percent week over week to averaging $38.88 per ton on this past Friday, ac ...
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- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Salva Resources Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
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