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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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Showing 16 to 20 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- The University of Queensland
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
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