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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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Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
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Showing 2526 to 2530 news of total 6871 |
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- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- The University of Queensland
- Planning Commission, India
- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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