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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- VISA Power Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
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