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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, 14 March 18
SHIPPING MARKET INSIGHT - VASILIS MOIRIS
Interest in second hand tonnage remains firm with buyers in the dry bulk sector looking to benefit from rising freight rates that are eventually ex ...
Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
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Showing 1776 to 1780 news of total 6871 |
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- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- The University of Queensland
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
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