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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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Wednesday, 25 June 14
INDONESIAN COAL EXPORTS ON RISE; EARNINGS FALL ON LOWER SELLING PRICES
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.84* ...
Wednesday, 25 June 14
THE PANAMAX MARKET REACHED FRESH LOWS FOR THE YEAR, SAYS INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a slight decrease, but this image of stability is merely representative of freight rat ...
Wednesday, 25 June 14
SHIPPING: MARKET INSIGHT - YANNIS OLZIERSKY
During his recent visit in London, China's Premier, Li Keqiang, announced that China's economy, the world's second largest after the US ...
Tuesday, 24 June 14
INDONESIAN COAL MINER TARGETS RP 313 BILLION IPO
COALspot.com: Indonesian coal miner PT Mitrabara Adiperdana is aiming to raise up to Rp 313 billion to Rp 368 billion (approximately $26.133 millio ...
Monday, 23 June 14
INDONESIAN COAL SWAP FOR Q3 DELIVERY LOST 8.60% Y-O-Y;4.80% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
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- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
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