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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, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
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