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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, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
Tuesday, 27 March 18
SHIPPING MARKET ANALYSIS - GERRY LATHROP
With the almost complete phase out of Tier II new-building slots on our door step, along with the plethora of emissions related articles seemingly ...
Friday, 23 March 18
RIO TINTO AGREES SALE OF HAIL CREEK AND VALERIA TO GLENCORE FOR $1.7 BILLION
Press Release: Rio Tinto has entered into a binding agreement with Glencore for the sale of its entire interests in the Hail Creek coal mine and th ...
Wednesday, 21 March 18
CHINA'S RAW COAL OUTPUT UP IN 2017, FIRST GROWTH SINCE 2014 - XINHUA
China’s raw coal output rose in 2017 due to rebounding demand and high-quality capacity, according to the National Bureau of Statistics (NBS) ...
Wednesday, 21 March 18
MARKET INSIGHT - CHRISTOPHER T. WHITTY
President’s Trump administration proposed tariffs on steel and aluminum imports in an attempt to target China and Europe among others. Earlie ...
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Showing 1761 to 1765 news of total 6871 |
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- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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