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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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Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
Wednesday, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
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Showing 1416 to 1420 news of total 6871 |
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- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Australian Coal Association
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Parliament of New Zealand
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
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