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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, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
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Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Baiduri Energy - Indonesia
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
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