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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, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
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