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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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Monday, 29 February 16
BALTIC INDEX INCHES UP THIS PAST WEEK AS SMALLER VESSELS LEND SUPPORT
COALspot.com: The freight markets rose slightly this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of global ...
Monday, 29 February 16
LOSS OF EARNINGS IN THE WAKE OF A COLLISION - GARD
KNOWLEDGE TO ELEVATE
A shipowner’s loss of earnings can form a significant part of a collision claim. Awareness of the ways of calculati ...
Friday, 26 February 16
U.S WEEKLY COAL PRODUCTION UP SLIGHTLY
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.4 million shor ...
Thursday, 25 February 16
DRY BULKERS ARE SCRAPPED AT RECORD PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The newbuilding market is at a lull these days, as ship owners are focusing on two fronts, getting rid of excess dry bulk tonnage and snapping up b ...
Wednesday, 24 February 16
HOW IS THE FUEL MIX FOR U.S. ELECTRICITY GENERATION CHANGING? - EIA
In recent years, there have been changes in the mix of fuels used to generate electricity in the United States. Natural gas and renewable energy so ...
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- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Parliament of New Zealand
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
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