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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, 30 December 15
FINAL DEALS OF THE YEAR TAKING PLACE, AS SHIP OWNERS PREPARE FOR 2016 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The Holidays’ investment lull has taken a grip over the newbuilding and S&P market for second hand vessels, as shipbrokers are reporting ...
Tuesday, 29 December 15
CFR SOUTH CHINA COAL SWAPS ROSE MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery rose US$ 0.68 (1.64%) per ton month over month.
A commodity swap is ...
Monday, 28 December 15
Q2' 15 U.S. STEAM COAL EXPORTS TOTALED 7.0 MMST; DOWN 16.9% FROM Q1 2015 - EIA
COALspot.com: U.S. coal production during second quarter 2015 totaled 211.1 million short tons.
According to EIA’s preliminary quarterly ...
Monday, 28 December 15
NOVEMBER NEWCASTLE COAL EXPORTS DECLINED 11.87%; THE AVERAGE PRICE OF COAL EXPORTS ROSE 1.37%
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $1.120 billio ...
Saturday, 26 December 15
FOB INDONESIA COAL SWAPS KEEP DROPPING
COALspot.com: Indonesian coal swap delivery Q1 2016 declined month on month and week over week.
According to AsiaClear OTC coal swap's rep ...
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- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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