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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, 17 February 16
THE OWNERS FACING HISTORICAL LOW DRY BULK RATES; COAL IMPORTS TO CHINA IS STILL POINTING TO A STRONG TREND OF DECLINING CONSUMPTION
The sharp fall in dry bulk rates that has been taking place since the end of last year and has left owners facing historical low rates for a substa ...
Monday, 15 February 16
CALL THE DOCTOR! SHIPPING'S MEDICAL DRAMA UNFOLDS......- CLARKSONS
The recycling market has started 2016 with a bang, with a huge volume of tonnage heading to demolition facilities. Many of the key shipping markets ...
Monday, 15 February 16
CS 42 COAL INDEX ROSE 0.07% WEEK OVER WEEK
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.15 percent week over week to averaging $38.96 per ton on this past Friday, ...
Monday, 15 February 16
BALTIC INDEX MARGINALLY ROSE BY A POINT D-D; CAPESIZE INDEX DOWN 13 POINTS W-W; PANAMAX INDEX UP 29 POINTS W-W
COALspot.com: The freight markets continued to fall this past week.
The BDI, The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measu ...
Friday, 12 February 16
DRY BULK MARKET'S FORTUNES STILL TIED WITH CHINA'S ECONOMY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The inevitable slowdown of the Chinese economy was expected to hurt dry bulk shipping, but few expected the blow to be this hard, especially given ...
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- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Australian Coal Association
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
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