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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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Friday, 11 September 15
U.S'S WEEKLY COAL PRODUCTION WAS ALMOST FLAT PAST WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.6 million shor ...
Thursday, 10 September 15
U.S. H1' 15 STEAM COAL EXPORTS FELL BY 21 PER CENT Y-Y: EIA
Coal Trade
Slower growth in world coal demand, lower international coal prices, and higher coal output in other coal-exporting countries have all ...
Thursday, 10 September 15
INDONESIAN COAL BENCHMARK PRICE HITS A NEW LOW OF $58.21 PER TON
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price to US$ 58.21 per MT ...
Thursday, 10 September 15
IF NOT NOW, WHEN? - GIANNIS ANDRITSOPOULOS
Our industry is well known to be cyclical with some cycles lasting longer than others. Despite the fact that these shifts in the behavior of the fr ...
Wednesday, 09 September 15
FOB INDONESIA COAL SWAP LOSE GROUND ON SLOWING DEMAND
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 1.92 (-4.52%) per t ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
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