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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, 10 March 15
FOB NEWCASTLE COAL SWAPS HEADING SOUTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 0.24 per MT (-0.47%) month over month and US$ 1.52 (-2.93%) we ...
Tuesday, 10 March 15
CFR SOUTH CHINA POWER-STATION COAL SWAPS DECLINE
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery fell US$ 0.42 (-0.74%) per MT month over month and declined US$ 1.00 &nbs ...
Monday, 09 March 15
INDONESIA GREETS INDIA RATE CUT AS GOOD FOR EXPORTS - GLOBEASIA
Indonesian commodity producers and economists have hailed the Indian central bank’s rate cut as good for boosting exports from Southeast Asia ...
Monday, 09 March 15
CHINA'S SUPREME COURT ISSUES NEW JUDICIAL INTERPRETATION ON SHIP ARREST AND JUDICIAL SALE OF SHIPS - GARD
KNOWLEDGE TO ELEVATE
China is not traditionally a popular jurisdiction for ship arrest. However, Members and clients with ships calling at por ...
Monday, 09 March 15
CHINA'S IMPORTS - NEVER MORE IMPORTANT TO SHIPPING? - CLARKSONS
Over the last 15 years China has led maritime forecasters a right old dance. In 2002, rumours that Chinese iron ore imports were about to take off ...
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- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- PTC India Limited - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
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