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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, 18 June 14
CHINESE STEEL PRODUCTION SETS RECORD DURING FIRST TEN DAYS OF JUNE - COMMODORE RESEARCH & CONSULTANCY
Recently released data shows that average daily crude steel production at China's key steel mills hit a record high of 1.833 million tons durin ...
Wednesday, 18 June 14
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Back in January the expectations for Q3 and Q4 were more than great. Talks and claims for a rising BDI and a healthy market were coming from everyw ...
Tuesday, 17 June 14
DRY BULK FREIGHT RATES TO RISE DURING THE SECOND HALF OF 2014, AS CHINA IS EXPECTED TO START IMPORTING MORE IRON ORE FROM BRAZIL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its latest analysis of the dry bulk market, BIMCO said that it doesn’t expect freight rates to react significantly to increased demand bef ...
Monday, 16 June 14
INDONESIAN COAL SWAPS FOR Q3 DELIVERY FALL 2.34 % MONTH ON MONTH
COALspot.com: Indonesian coal swaps for average Q3’ 2014 lost on day, week and on month according to AsiaClear OTC coal swap's reports re ...
Monday, 16 June 14
API 8 CFR SOUTH CHINA COAL SWAPS FALL CONTINUES THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.34 percent month on month and closed at US$ 71.05 per mt a ...
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Showing 3651 to 3655 news of total 6871 |
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- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
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