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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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Friday, 11 March 16
US WEEKLY COAL PRODUCTION DOWN BY 0.5 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 12.6 million shor ...
Friday, 11 March 16
FORTESCUE'S MOU WITH VALE COULD STRENGTHEN ITS BUSINESS PROFILE - FITCH
COALspot.com: Fitch Ratings says that Australia-based Fortescue Metals Group Limited's (BB+/Negative) memorandum of understanding (MOU) with Br ...
Thursday, 10 March 16
CHINA'S NEW POLICY PLAN COULD BE POSITIVE FOR SHIPPING, BUT TARGETS SEEM RATHER AMBITIOUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China set out its new policy plan during the course of the past weekend, but it seems to have set some very ambitious goals, which could be difficu ...
Thursday, 10 March 16
U.S. COAL EXPORTS DECLINED 23% IN 2015, AS COAL IMPORTS REMAINED STEADY
COALspot.com: The United States remains a net exporter of coal, exporting 74.0 million short tons (MMst) and importing 11 MMst in 2015.
Accord ...
Thursday, 10 March 16
IT FEELS SAFE TO SAY THAT THE MARKET IS SLOWLY AND PAINFULLY REGAINING ITS BALANCE
With the BDI marking its third consecutive positive weekly closing, it feels safe to say that the market is regaining its balance; slowly and painf ...
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Showing 2526 to 2530 news of total 6871 |
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- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Bhatia International Limited - India
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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