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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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- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- McConnell Dowell - Australia
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Australian Coal Association
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Planning Commission, India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
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