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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, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
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- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- VISA Power Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
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