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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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Saturday, 06 April 19
AUSTRALIA COAL POSTS BIGGEST WEEKLY DROP IN A DECADE AMID WEAK DEMAND - REUTERS
Australian thermal coal prices this week registered their biggest weekly fall since the financial market turmoil of a decade ago as demand plunged ...
Saturday, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
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Showing 1436 to 1440 news of total 6871 |
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- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- The University of Queensland
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
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