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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, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
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Showing 1891 to 1895 news of total 6871 |
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- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Australian Coal Association
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- MS Steel International - UAE
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
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