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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, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
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