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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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Tuesday, 01 May 18
SUPRAMAX: COAL RUNS, A 61,000-DWT WAS FIXED BASIS DELIVERY SURABAYA, FOR A TRIP VIA INDONESIA, RE-DELIVERY INDIA AT $15,000 - BALTIC BRIEFING
Capesize
Rates eased in the East, as the week closed out with the momentum slowing. Levels on the key West Australia/China run dropped to $7.25 ...
Tuesday, 01 May 18
GLOBAL MINER PEABODY EYES SALES OPPORTUNITY IN INDIA’S RISING COAL IMPORTS - BUSINESS STANDARD
Indian imports of coal will continue to rise, reckons the world’s largest private sector coal miner Peabody Energy. Glenn Kellow, president a ...
Saturday, 28 April 18
STRONG ASIAN DEMAND CONTINUES TO HOLD UP THERMAL COAL MARKETS - REUTERS
Asian thermal coal demand is defying its typical seasonal slowdown as well as the expanding use of renewables and natural gas, with prices holding ...
Friday, 27 April 18
PEABODY ENERGY'S REVENUES FOR THE FIRST QUARTER ROSE 10 PERCENT OVER THE PRIOR YEAR TO $1.46 BILLION
Peabody Energy's revenues for the first quarter rose 10 percent over the prior year to $1.46 billion driven by improved seaborne coal pricing a ...
Thursday, 26 April 18
BALTIC EXCHANGE LAUNCHES ESCROW SERVICE FOR VESSEL SALES
The Baltic Exchange will be launching an Escrow Service for its members to hold deposits for ship sale transactions. The move will allow Baltic Exc ...
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Showing 1731 to 1735 news of total 6871 |
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- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
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