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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, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
As everyone anticipated the results of the OPEC + G20 meeting last week, it was very interesting to watch the reaction of tanker rates that were in ...
Monday, 13 April 20
SUPRAMAX: A 56,000DWT SHIP WAS FIXED DELIVERY PARADIP, REDELIVERY CHINA, AT $4,700 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Saturday, 11 April 20
FAQ: COVID-19 AND CLUB COVER - UK P&I
KNOWLEDGE TO ELEVATE
The Coronavirus (COVID-19) pandemic has generated a significant number of enquiries and questions from Members in recent ...
Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 1,500,000-1,620,000 Metric Tons (M ...
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Showing 1016 to 1020 news of total 6871 |
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- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- The University of Queensland
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
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