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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, 03 March 16
RIO TINTO COMPLETES SALE OF INTEREST IN BENGALLA JOINT VENTURE FOR US$616.7 MILLION
COALspot.com: Rio Tinto has completed the sale of its 40 per cent interest in the Bengalla coal Joint Venture in Australia to New Hope Corporation ...
Wednesday, 02 March 16
RE-EVALUATION OF MINING LICENSES CLEAN AND CLEAR STATUS IN INDONESIA
COALspot.com: In connection with the transfer of mining authority from Regents/Mayors to Governors1 and from Regents/Mayors and Governors to t ...
Wednesday, 02 March 16
OIL MY GOD.....!!!!
OIL my GOD….!!!!
The oil price “crash” that started in 2014 was caused by a glut of practically unwanted oil. Producers had be ...
Tuesday, 01 March 16
CS 42 (4200 GAR) COAL INDEX CLOSED AT US$ 27.11 A TON ON 26 FEBRUARY
COALspot.com: Average 5000 GAR coal index of Indonesian origin decline 0.31 percent week over week to averaging $38.77 per ton on this past Friday, ...
Tuesday, 01 March 16
CAN BULKCARRIER SUPPLY CUTS RESTORE SOME BALANCE? - CLARKSONS
The easing in bulkcarrier deliveries and the accelerated pace of demolition in recent years has seen bulkcarrier fleet growth slow from a rapid 17% ...
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- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Planning Commission, India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
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