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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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Sunday, 08 February 15
BDI FELL CONTINUOUSLY HIT A THREE DECADES LOW
COALspot.com: This week Baltic Exchange Dry Freight Index (BDI) fell continuously hit a three decades low.
The BDI continuously fell and was d ...
Friday, 06 February 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 1.1% FROM LAST WEEK - EIA
COALspot.com – United States the world's one of the largest coal producers, produced approximately 20.1 million short tons (mmst) of coal ...
Friday, 06 February 15
SHIP DAMAGED BY FIRE CAUSED BY PIRATES FOUND TO BE CONSTRUCTIVE TOTAL LOSS - TAYLOR WESSING
KNOWLEDGE TO ELEVATE
The High Court was asked to determine a number of preliminary issues, including whether a vessel was a constructive total ...
Thursday, 05 February 15
BDI HAS NOW FALLEN A LEVEL CLOSE TO THE INDEX'S HISTORIC LOW - INTERMODAL
They say a picture is worth a thousand words and in this instance just one look at the tables above is enough to understand the great pressure the ...
Thursday, 05 February 15
ULTRAMAX LEVELS FROM INDIA TO CHINA IN THE MID US$ 5000'S - FEARNLEYS AS
Handy
Despite the overall weak sentiment, there is a scent of optimism in the Atlantic market for ppt dates. Continent is still struggling with o ...
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Showing 3211 to 3215 news of total 6871 |
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- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Australian Coal Association
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
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