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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, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
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Showing 2721 to 2725 news of total 6871 |
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- PTC India Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
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