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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, 27 April 15
U.S. COAL PRODUCTION FELL BELOW ONE BILLION SHORT TONS IN 2013 - EIA
COALspot.com: For the first time in two decades, U.S. coal production fell below one billion short tons to 984.8 million short tons in 2013 from 1, ...
Monday, 27 April 15
Q3' 2015 FOB NEWCASTLE COAL SWAP CLOSED 3.69% LOWER THAN Q2' 2015 PRICE OF $46.36
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery gained US$ 0.19 per MT (0.41%) month over month and US$ 0.78 week on week. ...
Monday, 27 April 15
CFR SOUTH CHINA COAL SWAP SLOWLY IMPROVED THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 0.74 (-1.41%) per MT month over month and increased US$ 0.43 ...
Sunday, 26 April 15
DRY BULK MARKET KEPT IMPROVING THIS WEEK; CAPES AND PANAMAXES SHOW A SLIGHT PICKUP IN RATES
COALspot.com: The freight market was stable this week as BDI closed at 600 points after improving 0.50 percent week over week.
The cape ...
Friday, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Planning Commission, India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- London Commodity Brokers - England
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