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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, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
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- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- White Energy Company Limited
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
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