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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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Monday, 06 October 14
' COAL-BY-WIRE' FROM SUMATRA TO JAVA - THE JAKARTA POST
Coal from the island of Sumatra accounts for most of Indonesia’s low-grade lignite, a low-quality coal that receives a poor price in internat ...
Monday, 06 October 14
THE IRON ORE SHIPPING BUSINESS IS FACING SOME ROUGH SEAS - EAST ASIA FORUM
The impact of Chinese demand on global iron ore prices is well known. A less acknowledged consequence of China’s emergence is the transformat ...
Sunday, 05 October 14
BALTIC DRY INDEX SLIPS 1.14%; BALTIC PANAMAX INDEX GAINED 9.91% WEEK ON WEEK
COALspot.com: The BDI was down by 1.14 pct and closed at 1037 points this Friday.
The Cape index was down significantly week on week or lost 5 ...
Friday, 03 October 14
U.S. WEEKLY COAL PRODUCTION UP 5.8% TO 19.9 MMST
COALspot.com – United States the world's one of largest coal producers, produced approximately 19.9 million short tons (mmst) of co ...
Thursday, 02 October 14
CAPESIZE - DULL AND WITHOUT MUCH DIRECTION AS IRON ORE AND COAL VOLUMES FAIL TO LIVE UP EXPECTATIONS
Handy
After the recent weeks´ rate increase in the Atlantic we see Panamaxes snapping up handymax and Supra cargoes at much lower levels, p ...
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- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
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