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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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Monday, 08 February 16
DRY-BULK SHIPPING DIVING DEEP
COALspot.com: The freight markets continued to fall this past week.
The Baltic Dry Index (BDI) of dry-bulk shipping freights, a measure of glo ...
Monday, 08 February 16
DRY BULK: SHIPBROKER SEES BDI MARKET REACHING LOW POINT OF 236 POINTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The endless pit that is the dry bulk market over the past two months, has been the issue of debate among ship owners, shipbroker and analysts alike ...
Friday, 05 February 16
COAL INDIA EYES COAL MINES IN SOUTH AFRICA - PTI
“Coal India Ltd has plans of acquiring coal mines in South Africa,” an official said. It is looking at acquiring mines in partnership w ...
Friday, 05 February 16
U.S. WEEKLY COAL OUTPUT ROSE 4.2% TO 13.6 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 13.6 million shor ...
Thursday, 04 February 16
CAPESIZE: WEST AUSTRALIAN TO CHINA HAS BEEN CONCLUDED AT US$ 2.85 PMT AND THE C3 MARKET REMAINS INACTIVE - FEARNLEYS
Capesize
As everyone is getting ready for the Chinese new year, already depressed rates are under further pressure.
According to Fearnleys, ...
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- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
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