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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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Sunday, 22 November 15
INDIA COULD PROVIDE SILVER LINING FOR SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The rise of India as a global player in the shipping market could be just a couple of years away, as the country has the potential to become a seco ...
Friday, 20 November 15
U.S. COAL PRODUCTION FOR THE WEEK ENDING NOVEMBER '14; NO CHANGE FROM LAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.5 million shor ...
Friday, 20 November 15
NO IMPROVEMENT SEEN IN NEAR-TERM COAL DEMAND; SWAPS CLOSE LOWER
COALspot.com: Indonesian coal swap for delivery Q1 2016 declined month on month and flat on week over week. Price of coal seen no improvements this ...
Friday, 20 November 15
CHANGING CRUDE SUPPLY TRENDS MAY HELP EUROPEAN REFINERS - FITCH RATINGS
COALspot.com: Changes in global oil supply trends, including high Russian production, the expected renewal of Iranian heavy crude exports and the p ...
Thursday, 19 November 15
CHINA STEEL PRODUCTION CAPACITY TO PEAK IN 2016 - FITCH RATINGS
COALspot.com: Fitch Ratings today says that China's steel production capacity is likely to peak in 2016, with capacity elimination over the nex ...
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- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- White Energy Company Limited
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
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