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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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Sunday, 29 December 19
AUSTRALIA SUFFERS WORST OF CHINA'S COAL CURBS AFTER EARLIER BOOM - BLOOMBERG
Australia is bearing the brunt of China’s year-end coal import restrictions, ceding market share to other exporters including Russia and Mong ...
Saturday, 28 December 19
SUPRAMAX: A 63,000DWT VESSEL, OPEN CIGADING, FIXED A TRIP VIA INDONESIA, REDELIVERY WEST COAST INDIA, AT $8,500 - BALTIC BRIEFING
Capesize
The Capesize market this past week has been attempting to recalibrate itself in consideration of weakening freight levels and increasing ...
Saturday, 28 December 19
CHINESE INDUSTRIAL CITY TO FURTHER CUT COAL CONSUMPTION - XINHUA
Harbin, capital city of Heilongjiang Province in China’s northeastern industrial heartland, is planning to further reduce its coal consumptio ...
Friday, 27 December 19
MISERY LOOMS OVER TOP COAL SHIPPERS AS CHINA TO BUY LESS IN 2020 BLOOMBERG
China isn’t cutting back on consumption of the most-polluting fossil fuel just yet, but it is set to reduce imports.
The world ...
Thursday, 26 December 19
REVIEW OF 2019 AND OUTLOOK FOR 2020 - OPEC
Global economic growth slowed in 2019, impacted by a variety of challenges. Trade issues not only led to reduction in global final consumption but ...
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Showing 1221 to 1225 news of total 6871 |
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- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- The University of Queensland
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
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