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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, 08 August 14
U.S PRODUCED 35.80 MMST OF COAL IN JULY; UP 7.89 MONTH OVER MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.50 million short tons (mmst) of coal in ...
Friday, 08 August 14
PORT OF NEWCASTLE SHIPPED 19.52% MORE COAL IN JULY FROM LAST MONTH
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped 14,036,947 t ...
Thursday, 07 August 14
SHORT-TERM COAL OUTLOOK IMPROVES - SAM QUEST
With demand for and supply of coal to grow in the near future, prices are expected to rebound in the short term; the long-term prospects, however, ...
Thursday, 07 August 14
BULKING UP IN AFRICA: CHINA INFLATES SEABORNE MINERALS EXPORT TRADE - RICHARD SCOTT
Africa’s profile as an exporter of dry bulk commodities is rising. Responding to growing import demand from China, India and other buyers in ...
Wednesday, 06 August 14
CAPES: BUSINESS INTEREST REMAINS SOFT; CURRENTLY NO SIGNS OF IMPROVEMENT - INTERMODAL
COALspot.com: Despite the considerable pressure witnessed in the freight market for most of the size segments, the Dry Bulk Index was able to note ...
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- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- White Energy Company Limited
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Economic Council, Georgia
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
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