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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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Friday, 26 December 14
SHIPS FACE LOWER SULPHUR FUEL REQUIREMENTS IN EMISSION CONTROL AREAS FROM 1 JANUARY 2015 - IMO
Ships trading in designated emission control areas will have to use on board fuel oil with a sulphur content of no more than 0.10% from 1 January 2 ...
Wednesday, 24 December 14
CAPE DEMAND WAS STILL EXTREMELY SOFT THIS PAST WEEK ACROSS BOTH BASINS - INTERMODAL
COALspot.com: The performance of the Dry Bulk market, which found itself in desperate search of support for yet another week, has left very little ...
Wednesday, 24 December 14
MARKET INSIGHT - JOHN N. COTZIAS, INTERMODAL SNP BROKER
The year is coming to an end, and we should be able to assess if this was a good year, a bad year, or even a lousy one? The answer clearly de ...
Tuesday, 23 December 14
Q1'15 FOB INDONESIA COAL SWAP GAINED 48 CENTS IN ONE WEEK
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month and gained week over week and day on day.
The Q1 swap has lo ...
Tuesday, 23 December 14
Q4'15 FOB RICHARDS BAY COAL SWAPS FALL $ 3.85 IN A MONTH
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 lost month on month.
The Q1 swap has lost US$ 2.13 (-3.17%) month on month ...
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- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- The University of Queensland
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
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