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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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Tuesday, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
Friday, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
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- The University of Queensland
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
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