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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, 12 February 16
COAL PRICES ARE EXPECTED TO DECLINE 13% IN 2016 TO $50 ATON, ON CONTINUED WEAK DEMAND AND OVERSUPPLY - WORLD BANK
COALspot.com: Thermal coal prices fell 9 percent in the fourth quarter on continued weak demand, high stocks, and surplus production, World Bank sa ...
Friday, 12 February 16
U.S. COAL PRODUCTION OFF 5.4% FROM LAST WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.9 million shor ...
Thursday, 11 February 16
GLOBAL NEWBUILDING ORDERBOOK IS SHRINKING ON A DAILY BASIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2016 has started right where 2015 left off when it comes to newbuilding ordering activity, i.e. there are slim pickings to be had from shipyards ar ...
Wednesday, 10 February 16
SOUTH AFRICA IS HOPING TO SHIP MORE COAL TO INDIA IN 2016
COALspot.com: South Africa is hoping to boost coal exports to India after shipping a record 75.4 million tonnes of coal in 2015, industry officials ...
Wednesday, 10 February 16
OWNERS APPEAR WILLING TO DISPOSE OF TONNAGE THE SOONEST IT HITS THE 10 YEAR MARK - TIMOS PAPADIMITRIOU
COALspot.com: The last two months of 2015 made a case for traditional shipowners to invest in the dry bulk sector, doing so though based purely on ...
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- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Australian Coal Association
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
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