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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, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
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Showing 1311 to 1315 news of total 6871 |
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- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Planning Commission, India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
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