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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, 09 March 16
U.S. COAL EXPORTS DECLINED 24% (74 MMST) IN 2015; COAL PRODUCTION IS EXPECTED TO DECREASE BY 111 MMST IN 2016 - EIA
U.S. Coal Supply
EIA estimates that U.S. coal production for February 2016 was 54 million short tons (MMst), a 4 MMst (7%) decrease from the prev ...
Wednesday, 09 March 16
RI MAY HAVE TO IMPORT COAL FOR FUTURE POWER PLANTS: STUDY - THE JAKARTA POST
With coal prices continuing to decline, Indonesia will struggle to provide the coal needed to fire up its power stations in the near future, a stud ...
Tuesday, 08 March 16
INDONESIA HIKES COAL BENCHMARK PRICE FOR THE FIRST TIME IN 12 MONTHS
COALspot.com: Low coal demand and excess supplies sent Indonesian benchmark coal price further deep in February 2016, but up slightly in Mar ...
Tuesday, 08 March 16
THE DRY CARGO MARKET ENDURED ONE OF ITS MOST DIFFICULT YEARS IN 2015, EXPERIENCING LOWS NOT SEEN SINCE THE MID 1980S - CLARKSONS
Whilst shipping and offshore markets have seen some good opportunities during 2015, overall there have been unprecedented challenges, so we are ver ...
Monday, 07 March 16
INDONESIAN 5700 GAR COAL INDEX DECLINE $0.05 A TON WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.28 percent week over week to averaging $38.66 per ton on this past Friday, ...
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- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
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