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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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Thursday, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- The University of Queensland
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
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