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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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Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to Mar ...
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Showing 1746 to 1750 news of total 6871 |
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- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Central Electricity Authority - India
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