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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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Sunday, 01 March 15
BDI INDEX SLIGHTLY UP CAUSED AN INCREASE IN THE PANAMAX, SUPARAMAX AND HANDY SIZE INDICES
COALspot.com: The freight market saw some gains this week and BDI was up 5.26 pct closed at 540 points. However the Cape index failed to follow BDI ...
Friday, 27 February 15
WEEKLY US COAL PRODUCTION DOWN AN ESTIMATED 14.0% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 16.5 million short tons (mmst) of coal ...
Thursday, 26 February 15
DRY BULK MARKET COULD REBOUND FROM HISTORICAL LOWS IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market could exit from its historical lows in the coming weeks, as Chinese buyers reenter the market after the holiday celebrations. T ...
Thursday, 26 February 15
COAL POLICY RISK: HIGHER ROYALTIES FOR IUP HOLDERS - BAHANA SECURITIES | JAKARTA POST
The Energy and Mineral Resources Ministry plans to raise coal royalties charged to mining operation permit (IUP) holders by the end of the first qu ...
Thursday, 26 February 15
DRY BULK MARKET LOOKING FOR POSITIVE MOMENTUM, BUT PROSPECTS REMAIN DIM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the Baltic Dry Index (BDI) inched a bit higher over the past couple of sessions and the Chinese are returning to the market after a week long hi ...
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- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- The University of Queensland
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
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