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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, 28 April 19
SUPRAMAX: A 54,000DWT VESSEL OPEN GRESIK FIXED VIA AUSTRALIA, REDELIVERY CHINA, IN THE MID $12,000S - BALTIC BRIEFING
Capesize
Following the holidays, activity increased in both the Pacific and Atlantic Basins. The 5TC average rallied, closing at $8,596, up $1, ...
Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
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Showing 1411 to 1415 news of total 6871 |
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- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- The University of Queensland
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- Planning Commission, India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Georgia Ports Authority, United States
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Videocon Industries ltd - India
- Mercator Lines Limited - India
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